markups with just a selling price

Question

As the manager of Dollar Depot, calculate the amount of the markup and the percent markup on
selling price per case if these Softies products cost your store $5.60 per case of 12 boxes

Answer 1

I'm guessing you sell each box for a dollar so you sell a case for $12.  

 

So the amount of the markup is $12 - $5.60 = $6.40 

 

The percent markup is 

 

[(Sales price - Product cost) / (Product cost)] * 100 

 

= [(12 - 5.60) / 5.60] * 100

 

= [6.40 / 5.60] * 100

 

= 1.14 * 100 = 114%