The cost of a baseball glove is $50.00, the Sporting Goods Store sells i for $60.00. How do you find the Markup percentage?

1 Answer
Oct 26, 2016

Answer:

I got: #20%#

Explanation:

We know that the Sporting Goods Store charges
#$60.00-$50.00=$10.00# on top of the cost of the glove.

We need to evaluate, in percentage terms, the corresponding value of this increase.

Let us consider that the cost, #$50.00#, corresponds to #100%#; so #$10.00# will corresponds to the required #x%#.

We can compare the #%# and the #$# using fractions and say:

#(100%)/(x%)# is the same as: #($50.00)/($10.00)#
or:
#(100%)/(x%)=($50.00)/($10.00)#
rearranging:
#x%=100%*($10.00)/($50.00)=20%#
corresponding, in #%# terms, to the money charged by the store.