herman, a sign maker for a store, makes a sign advertising lamps for sale at a price of $21 each. however…

herman, a sign maker for a store, makes a sign advertising lamps for sale at a price of $21 each. however, the lamps only cost the store $10 each. what is the mark - up percentage? write your answer using a percent sign (%).

herman, a sign maker for a store, makes a sign advertising lamps for sale at a price of $21 each. however, the lamps only cost the store $10 each. what is the mark - up percentage? write your answer using a percent sign (%).

Answer

Explanation:

Step1: Calculate the mark - up amount

Mark - up amount = Selling price - Cost price. So, $21 - 10=11$.

Step2: Calculate the mark - up percentage

Mark - up percentage = $\frac{\text{Mark - up amount}}{\text{Cost price}}\times100%$. Substitute the values: $\frac{11}{10}\times100% = 110%$.

Answer:

110%