SOLUTION: A bookstore buys a used calculus book for $12.00 and sells it for $40.00. Find the percent of markup. I know the profit was $28.00, but I can't figure out the formula to find t

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A bookstore buys a used calculus book for $12.00 and sells it for $40.00. Find the percent of markup. I know the profit was $28.00, but I can't figure out the formula to find t      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 27559: A bookstore buys a used calculus book for $12.00 and sells it for $40.00. Find the percent of markup.
I know the profit was $28.00, but I can't figure out the formula to find the percentage of the markup. Help!
Answer by longjonsilver(2297) About Me  (Show Source):
You can put this solution on YOUR website!
any sort of question like this always is based upon the ORIGINAL value!

so, we have (increase/original)*100
--> (28/12)*100
--> (7/3)*100
--> 233.33%

in other words, it is more than twice the original price, which is correct: original being 12...twice this is 36...40 is just over that, by a further $4 which is one-third of 12...hence the meaning of 200%+33.33%

jon.