We are given a selling price of $365 and a purchase cost of $240, we are asked to find the markup. The formula for calculating the mark up is the following:
[tex]\text{markup}=\frac{sale\text{ price-cost}}{\cos t}[/tex]we have that the sale price is 365 and the cost is 240. Replacing in the formula:
[tex]\text{markup}=\frac{365-240}{240}[/tex]solving the operations we get:
[tex]\text{markup}=\frac{125}{240}=0.52[/tex]This can be expressed as a percentage like this:
[tex]\text{markup}=52\text{ percent}[/tex]the markup is 52%
