Savannah, a sign maker for a store, makes a sign advertising silver coat racks for sale at a price of $754 each. However, the silver coat racks only cost the store $650 each. What is the mark-up percentage?Write your answer using a percent sign (%)._____
Q. Savannah, a sign maker for a store, makes a sign advertising silver coat racks for sale at a price of $754 each. However, the silver coat racks only cost the store $650 each. What is the mark-up percentage?Write your answer using a percent sign (%)._____
Calculate Price Difference: Step 1: Calculate the difference in price between the selling price and the cost price.Difference in price = Selling price - Cost price= $754 - $650 = $104
Calculate Mark-up Percentage: Step 2: Calculate the mark-up percentage based on the cost price.Mark-up percentage = (Difference in price/Cost price)×100= ($104/$650)×100= 0.16×100= 16%
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