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The buyer for a chain of stores purchased fishing poles in bulk, paying $10\$10 each. The stores will sell each fishing pole for $16\$16. What is the mark-up percentage?\newlineWrite your answer using a percent sign (%).\newline_____

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Q. The buyer for a chain of stores purchased fishing poles in bulk, paying $10\$10 each. The stores will sell each fishing pole for $16\$16. What is the mark-up percentage?\newlineWrite your answer using a percent sign (%).\newline_____
  1. Question Prompt: Question prompt: What is the mark-up percentage for the fishing poles?
  2. Calculate Mark-up Amount: Calculate the amount of mark-up by subtracting the cost price from the selling price.\newline$16−$10=$6\$16 - \$10 = \$6
  3. Identify Mark-up Percentage Expression: Identify the expression for mark-up percentage. Mark-up percentage = (Mark-upCost price)×100%(\frac{\text{Mark-up}}{\text{Cost price}}) \times 100\%
  4. Solve for Mark-up Percentage: Solve for the mark-up percentage.\newline(610)×100%=60%(\frac{6}{10}) \times 100\% = 60\%

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