A store pays $11 for a set of spoons and marks the price up by 30%. What is the amount of the markup?

Question

A store pays $11 for a set of spoons and marks the price up by 30%. What is the amount of the markup?

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Ngọc Hoa 5 years 2021-08-18T03:28:15+00:00 1 Answers 20 views 0

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  1. yenoanh
    0
    2021-08-18T03:29:56+00:00
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    Answer:

    \$3.3

    Step-by-step explanation:

    Given:

    Amount paid by a store for a set of spoons = $11

    Percentage increase in price = 30%

    To find: amount of the mark up

    Solution:

    To find amount of the mark up, find 30% of (amount paid by a store for a set of spoons)

    Amount of the mark up = \frac{30}{100} (11)=\$3.3

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