The Jersey Store purchases sports jerseys at a cost of $11.00 per jersey. They sell the jerseys for $18.00 each.
The rate of the markup is around 64%.

Name: The Jersey Store purchases sports jerseys at a cost of $11.00 per jersey. They sell the jerseys for $18.00 each. The rate of the markup is around 64%.
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Question

The Jersey Store purchases sports jerseys at a cost of $11.00 per jersey. They sell the jerseys for $18.00 each.
​The rate of the markup is ​around 64%.

Quizplus · Accepted Answer

The markup on the jerseys is calculated as ($18.00 - $11.00) / $11.00 = $7.00 / $11.00 ≈ 0.6364, which is approximately 64%.

The Jersey Store Purchases Sports Jerseys at a Cost of $11.00