How do you find the amount of markup or the amount of discount given $1 wax; 125% markup?

1 Answer
Jun 9, 2017

Answer:

See a solution process below:

Explanation:

This problem can be restated as:

What is 125% of $1?

"Percent" or "%" means "out of 100" or "per 100", Therefore 125% can be written as #125/100#.

When dealing with percents the word "of" means "times" or "to multiply".

Finally, lets call the markup amount we are looking for "m".

Putting this altogether we can write this equation and solve for #m# while keeping the equation balanced:

#m = 125/100 xx $1#

#m = ($125)/100#

#m = $1.25#

The markup amount is $1.25