Question

jackie, an accountant, observes that her company purchased antique writing desks at a cost of $1,000 and is currently selling them at a price of $2,500. what percentage is the mark - up?
write your answer using a percent sign (%).

Explanation:

Step1: Calculate the mark - up amount

The mark - up amount is the selling price minus the cost price. The cost price is $1000 and the selling price is $2500. So the mark - up amount $= 2500 - 1000=1500$.

Step2: Calculate the mark - up percentage

The formula for mark - up percentage is $\frac{\text{Mark - up amount}}{\text{Cost price}}\times100\%$. Substituting the values, we get $\frac{1500}{1000}\times 100\%$. First, $\frac{1500}{1000}=1.5$, then $1.5\times100\% = 150\%$.

Answer:

150%