Converse price for a new pair of shoes is 65 $ . If it costs $45 to manufacture the shoe, what is the approximate markup in the price of the shoe?

Question

Percent of change 

Answer 1

Find the number we multiplied the purchase price by to get the selling price.

 

45x = 65

 

Solve for x then subtract 1 from that which represents 100% of the original price

 

x = 65/45 = 1.4444

 

This is a 44.44% mark up from the purchase price

 

check:  45(1.4444) = 64.998 ≅ $65