Question

a department store buys 100 shirts at a cost of $600 and sells them at a selling price of $10 each. find the percent markup. the percent markup is \\(\square\\)% (round to the nearest whole number as needed)

Explanation:

Step1: Calculate total selling price

Total selling price = Number of shirts × Price per shirt = $100 \times 10 = 1000$ dollars

Step2: Calculate total markup amount

Markup amount = Total selling price - Total cost = $1000 - 600 = 400$ dollars

Step3: Calculate percent markup

Percent markup = $\frac{\text{Markup amount}}{\text{Total cost}} \times 100\% = \frac{400}{600} \times 100\% \approx 66.67\%$

Step4: Round to nearest whole number

Round $66.67\%$ to the nearest whole number, which is $67\%$

Answer:

67