If a product has a cost of $15 and is sold for $25, what is the markup percentag

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Question: If a product has a cost of $15 and is sold for $25, what is the markup percentage?

Options:

Correct Answer: 50%

Solution:

Markup Percentage = ((Selling Price - Cost) / Cost) x 100 = (($25 - $15) / $15) x 100 = 66.67%.

If a product has a cost of $15 and is sold for $25, what is the markup percentage?

If a product has a cost of $15 and is sold for $25, what is the markup percentage?

Step 1: Identify the cost of the product. In this case, the cost is $15.
Step 2: Identify the selling price of the product. Here, the selling price is $25.
Step 3: Calculate the difference between the selling price and the cost. This is done by subtracting the cost from the selling price: $25 - $15 = $10.
Step 4: Divide the difference by the cost to find the markup ratio. This is $10 divided by $15: $10 / $15 = 0.6667.
Step 5: Convert the markup ratio into a percentage by multiplying by 100: 0.6667 x 100 = 66.67%.
Step 6: The final answer is that the markup percentage is 66.67%.

Markup Percentage – Markup percentage is a measure of how much the selling price exceeds the cost price, expressed as a percentage of the cost price.