Kohl's pays $16.50 for a six-ounce bottle of cologne and sells it for $25.95. Its markup as a percentage of cost is approximately ____ percent for this product.
A)64
B)36
C)18
D)57
E)45

Question

Quizplus · Accepted Answer

To find the markup percentage, we need to find the difference between the selling price and the cost price, and then divide that difference by the cost price, and finally, multiply the result by 100 to get the percentage.

Markup = Selling price - Cost price
Markup percentage = (Markup / Cost price) x 100

Here, the cost price of the cologne is $16.50 and the selling price is $25.95.

Markup = $25.95 - $16.50 = $9.45
Markup percentage = ($9.45 / $16.50) x 100 = 57.27 (rounded to nearest whole number)

Therefore, the markup percentage is approximately 57%, which is closest to option D (57).

Kohl's Pays $16