markups and discounts\na non - profit organization is selling popcorn to raise money to purchase relief. the…

markups and discounts\na non - profit organization is selling popcorn to raise money to purchase relief. the organization paid $4 per bag for the popcorn and sold it for $5 per bag. what was the percent markup on each bag of popcorn?

markups and discounts\na non - profit organization is selling popcorn to raise money to purchase relief. the organization paid $4 per bag for the popcorn and sold it for $5 per bag. what was the percent markup on each bag of popcorn?

Answer

Explanation:

Step1: Find the markup amount

Markup amount = Selling price - Cost price. Cost price is $4 per bag and selling price is $15 per bag. So, Markup amount = $15 - $4 = $11.

Step2: Calculate the percent - markup

Percent - markup formula is $\frac{\text{Markup amount}}{\text{Cost price}}\times100%$. Substitute the values: $\frac{11}{4}\times100% = 275%$.

Answer:

275%