Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.What is her markup in dollar terms?
A)$36
B)$64
C)$100
D)$360
E)$1,000

Question

Quizplus · Accepted Answer

Markup is the difference between the cost price and the selling price. In this case, the cost of 10 picture frames is $36 x 10 = $360. The selling price for 10 picture frames is $100 x 10 = $1000. Therefore, the markup in dollar terms is $1000 - $360 = $640. However, the question asks for just the markup, not the selling price. So, the markup in dollar terms is $640 - 10 x $36 = $640 - $360 = $280, which is closest to option B.

Jane Westerlund Owns a Small Retail Picture Frame Store in a Local