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26-11-2020
Business

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Men’s Wearhouse purchased black leather belts for $15.99 each and priced them to sell for $29.99 each. What was the markup on the belts?

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facundobuzzetti facundobuzzetti

28-11-2020

Answer:

Mark-up percentage= 87.55%

Explanation:

Giving the following information:

Purchased price= $15.99

Selling price= $29.99

To calculate the mak up percentage, we need to use the following formula:

Mark-up percentage= [(selling price - purchase price)/purchase price]*100

Mark-up percentage= [(29.99 - 15.99)/15.99]*100

Mark-up percentage= 87.55%

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