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| Math Central | Quandaries & Queries |
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Question from Sher: Cost price is $\$32,500$ and selling price was $\$ 85,495.25,$ what percent markup was made? |
Hi Sher,
The markup is $\$85,495.25 - \$32,500 = \$52,995.25.$ But you want the markup as a percentage. My question is a percentage of what? For markup I expect you want to express it as a percentage of the cost. The markup you have, expressed as a fraction of the cost is
\[\frac{\$52,995.25}{\$32,500}.\]
To express this fraction as a percentage multiply it by 100.
Penny
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