SOLUTION: Is there a formula for finding the percent markup. For example in this problem what would the formula be: Jane sold a scarf for $24. Her wholesale cost was $10. What was the

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Is there a formula for finding the percent markup. For example in this problem what would the formula be: Jane sold a scarf for $24. Her wholesale cost was $10. What was the       Log On


   

Question 256528: Is there a formula for finding the percent markup.
For example in this problem what would the formula be:
Jane sold a scarf for $24. Her wholesale cost was $10. What
was the percent markup? You can round to the nearest
tenth,if needed.
[what would the formula be for this type of problem]
also, a formula for percent discount would be nice too.
thanks!
Answer by drk(1908) About Me  (Show Source):
You can put this solution on YOUR website!
The formula for percent change is:
%-change = ((end - start)/start)*100.
This is the formula for both markup and mark down.
--
From the problem, we get
%28%2824-10%29%2F24%29%2A100
100%2A%2814%2F24%29 = 58.33%