levi, an accountant, observes that his company purchased snowboards at a cost of $740 and is currently…

levi, an accountant, observes that his company purchased snowboards at a cost of $740 and is currently selling them at a price of $999. what percentage is the mark - up? write your answer using a percent sign (%).

levi, an accountant, observes that his company purchased snowboards at a cost of $740 and is currently selling them at a price of $999. what percentage is the mark - up? write your answer using a percent sign (%).

Answer

Explanation:

Step1: Find the markup amount

Markup amount = Selling - Cost = $999 - 740=259$

Step2: Calculate the markup percentage

Markup percentage = $\frac{\text{Markup amount}}{\text{Cost}}\times100%=\frac{259}{740}\times 100%$ $=\frac{25900}{740}% = 35%$

Answer:

35%