# A store owner bought a painting for $120. She is selling it for$190. What is the percent markup on the painting?

Dec 18, 2016

58.33%

#### Explanation:

"Percentage increase" = ("final value" - "initial value")/"initial value" ×100%

= (190-120)/120×100%

=(70/120)*100%

$= \frac{700}{12} = 58.33$

The level of accuracy required depends on the situation and the original instructions/convention.

This can be 1 decimal place or 2 decimal places, or often 3 significant figures.