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| Math Central | Quandaries & Queries |
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Question from Dane, a parent: If i brought a card for £5 and sold it for £10 what is my profit percentage? 50% or 100% |
Hi Dane,
You bought the card for £5 and marked it up £5 to sell it for £10. Hence the markup is 100% of your cost. From the point of view of the person buying the card from you your profit (£5) is 50% of what he paid. The first is usually called the markup and the second the profit. To be clear you should say that your profit is 50% of your selling price.
Penny
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