Given:
A store manager purchased hoodies for $24.99 apiece.
He sells the hoodies for $32.
To find:
The markup percentage.
Solution:
We have,
Cost price (C.P.) = $24.99
Selling price (S.P.) = $32
We know that,
[tex]\text{Markup percentage}=\dfrac{S.P.-C.P.}{C.P.}\times 100[/tex]
[tex]\text{Markup percentage}=\dfrac{32-24.99}{24.99}\times 100[/tex]
[tex]\text{Markup percentage}=\dfrac{7.01}{24.99}\times 100[/tex]
[tex]\text{Markup percentage}=\dfrac{701}{24.99}[/tex]
[tex]\text{Markup percentage}\approx 28.05[/tex]
Therefore, the markup percentage is 28.05%.
