SOLUTION: If a product is bought for $112 and sold for $154, what is the percentage mark-up?

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Question 998389: If a product is bought for $112 and sold for $154, what is the percentage mark-up?
Answer by fractalier(6550) About Me  (Show Source):
You can put this solution on YOUR website!
The profit is $154 - $112 = $42.
We divide that profit by the cost to find the % mark-up, or
42/112 = .375 = 37.5%