Mathematics
Easy

Question

# A golf store pays its wholesaler \$100 for a certain club and sells it to a golfer for \$175. The mark-up is _________ %.

Hint:

## The correct answer is: 75

### The  cost price of the club is \$100 and selling price is \$175. We have to find the percent mark-up for given question. Mark up means   quantity added to the cost price. The formula for markup isMarkup = selling price – cost priceBut in this example we have to find mark-up percentage. It means increase in percentage of the original cost of the club.The formula for markup percentage is given byWe will substitute the value of mark-up in this equation.Now we have formula to calculate the mark-up percentage. We have both the value of selling price and cost price of the club.Cost price = 100Selling price = 175.We will substitute the following values in the above equation.                       After solving the above equation we get value of percent mark-up of 75% for the golf club.Therefore, option (b), which is '75%' is the right option.

We have to be careful about the cost price and selling price. If selling price is greater than cost price, it means we are getting mark-up.