A drugstore purchases hand cream at $2 per jar and sells them for $15.What is their markup percentage?

Question

Quizplus · Accepted Answer

Markup percentage can be calculated by subtracting the cost of the product from its selling price, dividing that difference by the cost, and then multiplying by 100.

Markup percentage = ((selling price - cost)/cost) x 100

In this case, the cost of the product is $2 per jar and the selling price is $15 per jar.

Markup percentage = ((15-2)/2) x 100 = 650/2 = 325%

So, the markup percentage for the drugstore on this hand cream is 325%.

Among the given options, option B is closest to the calculated markup percentage. Therefore, the best choice is B

A Drugstore Purchases Hand Cream at $2 Per Jar and Sells