A department store buys 100 shirts at a cost of $600 and sells them at a selling price of 10 each fi

Discussion in 'Calculator Requests' started by math_celebrity, Jan 10, 2021.

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  1. math_celebrity

    math_celebrity Administrator Staff Member

    A department store buys 100 shirts at a cost of $600 and sells them at a selling price of 10 each find the percentage mark up

    Find Unit Cost:
    Unit Cost = Cost / Number of Shirts
    Unit Cost = 600 / 100
    Unit Cost = 6

    With a selling price of 10, our markup percentage is:
    Markup % = 100 * (New Price - Old Price)/Old Price
    Markup % = 100 * (10 - 6)/6
    Markup % = 100 * 4/6
    Markup % = 400/6
    Markup % = 66.67%
     

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