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Savannah, a sign maker for a store, makes a sign advertising silver coat racks for sale at a price of $754\$754 each. However, the silver coat racks only cost the store $650\$650 each. What is the mark-up percentage?\newlineWrite your answer using a percent sign (%).\newline_____\_\_\_\_\_

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Q. Savannah, a sign maker for a store, makes a sign advertising silver coat racks for sale at a price of $754\$754 each. However, the silver coat racks only cost the store $650\$650 each. What is the mark-up percentage?\newlineWrite your answer using a percent sign (%).\newline_____\_\_\_\_\_
  1. Calculate Price Difference: Step 11: Calculate the difference in price between the selling price and the cost price.\newlineDifference in price = Selling price - Cost price\newline= $754\$754 - $650\$650 = $104\$104
  2. Calculate Mark-up Percentage: Step 22: Calculate the mark-up percentage based on the cost price.\newlineMark-up percentage = (Difference in price/Cost price)×100(\text{Difference in price} / \text{Cost price}) \times 100\newline= ($104/$650)×100(\$104 / \$650) \times 100\newline= 0.16×1000.16 \times 100\newline= 16%16\%

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