8. a department store buys 300 shirts for a total cost of $7,200 and sells them for $30 each. find the…

8. a department store buys 300 shirts for a total cost of $7,200 and sells them for $30 each. find the percent markup.

8. a department store buys 300 shirts for a total cost of $7,200 and sells them for $30 each. find the percent markup.

Answer

Explanation:

Step1: Calculate the cost per shirt

The total cost is $7200$ for $300$ shirts. The cost per shirt (C=\frac{7200}{300}) (C = 24) dollars per shirt.

Step2: Calculate the markup per shirt

The selling price per shirt (S = 30) dollars. Markup per shirt (M=S - C) (M=30 - 24=6) dollars.

Step3: Calculate the percent markup

Percent markup formula is (\text{Percent Markup}=\frac{M}{C}\times100%) Substitute (M = 6) and (C = 24) into the formula: (\text{Percent Markup}=\frac{6}{24}\times 100%) (\text{Percent Markup}=0.25\times100% = 25%)

Answer:

The percent markup is (25%)