Antonio sold a hat for $18 his wholesale cost was $8 what was the percent markup?

Question

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Answer 1

Antonio paid $8 for a hat he sold for $18, so his profit was $10. Markup is a percentage increase from the wholesale price, so let's find the percentage of $10 to $8:

 

$10/$8 = 125%

 

Think of it this way: $10 is more than $8, so we know the markup is more than 100%. It is actually $2 more than 100%. $2 being one-fourth - or 25% - of $8, the total markup is 100%+25%.