Question

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?

Answer 1

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.