Question

 A store that buys and sells used video games buys a game at a cost of ​$415 and sells it at a selling price of ​$477.25. Find the markup. Then find the percent markup.
The markup is ​$
nothing.

Answer 1

The markup value = $62.25

The mark up percentage = 15%

Step-by-step explanation:

Step 1 :

Cost price of the video game = $415

Selling price of the video game = $477.25

We need to find the mark up value and the markup percentage

Step 2 :

The markup value can be computed by taking the difference of the selling and the cost price.

Hence the markup = $477.25-$415 = $62.25

The markup percentage is computed on the cost price

so the mark up percentage =( 62.25 ÷ 415) × 100 = 15%

Step 3 :

Answer :

The markup value = $62.25

The mark up percentage = 15%