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A store purchased canoes for $300\$300 and sold them for $435\$435. What percentage is the mark-up? \newlineWrite your answer using a percent sign (%\%). \newline _____

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Full solution

Q. A store purchased canoes for $300\$300 and sold them for $435\$435. What percentage is the mark-up? \newlineWrite your answer using a percent sign (%\%). \newline _____
  1. Find Price Difference: First, find the difference in price, which is the selling price minus the cost price.\newlineDifference = $435\$435 - $300\$300 = $135\$135.
  2. Calculate Mark-up Percentage: Next, calculate the mark-up percentage using the formula: (Difference in price/Cost price)×100(\text{Difference in price} / \text{Cost price}) \times 100. Mark-up percentage = ($135$300)×100\left(\frac{\$135}{\$300}\right) \times 100.
  3. Division and Multiplication: Now, do the division and multiplication to get the mark-up percentage. Mark-up percentage = 0.45×100=45%0.45 \times 100 = 45\%.

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