The buyer for a chain of stores purchased fishing poles in bulk, paying $10 each. The stores will sell each fishing pole for $16. What is the mark-up percentage?Write your answer using a percent sign (%)._____
Q. The buyer for a chain of stores purchased fishing poles in bulk, paying $10 each. The stores will sell each fishing pole for $16. What is the mark-up percentage?Write your answer using a percent sign (%)._____
Question Prompt: Question prompt: What is the mark-up percentage for the fishing poles?
Calculate Mark-up Amount: Calculate the amount of mark-up by subtracting the cost price from the selling price.$16−$10=$6
Identify Mark-up Percentage Expression: Identify the expression for mark-up percentage. Mark-up percentage = (Cost priceMark-up)×100%
Solve for Mark-up Percentage: Solve for the mark-up percentage.(106)×100%=60%
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