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An entrepreneur buys some furnaces. Each one costs $580\$580 and resells online for $899\$899. What is the mark-up, as a percentage?\newlineWrite your answer using a percent sign (%).\newline_____

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Q. An entrepreneur buys some furnaces. Each one costs $580\$580 and resells online for $899\$899. What is the mark-up, as a percentage?\newlineWrite your answer using a percent sign (%).\newline_____
  1. Calculate Price Difference: Calculate the difference in price (mark-up in dollars).\newlineDifference = Selling price - Cost price\newlineDifference = $899\$899 - $580\$580\newlineDifference = $319\$319
  2. Find Mark-up Percentage: Find the mark-up percentage.\newlineMark-up percentage = (Difference/Cost price)×100(\text{Difference} / \text{Cost price}) \times 100\newlineMark-up percentage = ($319/$580)×100(\$319 / \$580) \times 100\newlineMark-up percentage = 0.55×1000.55 \times 100\newlineMark-up percentage = 55%55\%

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