Question

a store employee notices that jump ropes that cost his store $1.50 are being sold for $3.12. what is the mark - up, as a percentage? write your answer using a percent sign (%).

Explanation:

Step1: Find the mark - up amount

The cost price (CP) of the jump rope is $1.50 and the selling price (SP) is $3.12. The mark - up amount (MU) is calculated as the difference between the selling price and the cost price. So, \(MU=SP - CP\).
Substituting the values, we get \(MU = 3.12-1.50=1.62\).

Step2: Calculate the mark - up percentage

The formula for mark - up percentage (\(MUP\)) is \(\frac{MU}{CP}\times100\%\).
We know that \(MU = 1.62\) and \(CP = 1.50\). Substituting these values into the formula, we have \(MUP=\frac{1.62}{1.50}\times100\%\).
First, calculate \(\frac{1.62}{1.50}=1.08\). Then, multiply by 100%: \(1.08\times100\% = 108\%\).

Answer:

108%