an entrepreneur buys some hammocks. each one costs $20 and resells online for $45.40. what is the mark - up…

an entrepreneur buys some hammocks. each one costs $20 and resells online for $45.40. what is the mark - up, as a percentage? write your answer using a percent sign (%).

an entrepreneur buys some hammocks. each one costs $20 and resells online for $45.40. what is the mark - up, as a percentage? write your answer using a percent sign (%).

Answer

Explanation:

Step1: Calculate the markup amount

Markup amount = Selling price - Cost price. So, (45.40 - 20=$25.40)

Step2: Calculate the markup percentage

Markup percentage formula is (\frac{\text{Markup amount}}{\text{Cost price}}\times100%) Substitute the values: (\frac{25.40}{20}\times 100%) First, (\frac{25.40}{20}=1.27) Then, (1.27\times100% = 127%)

Answer:

(127%)