Sally is selling bracelets for $16.00 and the markup is $6.40. What is the markup percentage?
A) 40 percent
B) 12.5 percent
C) 19.6 percent
D) 36.4 percent
E) 54 percent

Question

Quizplus · Accepted Answer

The markup percentage is calculated by dividing the markup by the cost price and then multiplying by 100. Here, the markup is $6.40 and the selling price is $16.00. To find the cost price, subtract the markup from the selling price: $16.00 - $6.40 = $9.60. Then, the markup percentage is ($6.40 / $9.60) * 100 = 66.67%. However, given the options, it seems there was a misunderstanding in the calculation process. The correct approach should be considering the markup percentage based on the cost price, leading to the realization that the provided options and the calculation do not align with the standard method of calculating markup percentage. Given this, the correct choice based on standard markup calculation is not listed, indicating a mistake in the initial explanation. The correct calculation method shows a discrepancy with the provided options, suggesting a reevaluation of the calculation or the options provided.

Sally Is Selling Bracelets for $16