A retailer bought a collectible Precious Moments figurine for $26. She sets the initial selling price at $60. The final selling price was $52. What was the original markup?

Question

Quizplus · Accepted Answer

The original markup would be the difference between the initial selling price and the cost price:
$60 - $26 = $34
To find the percent markup, we can use the formula:
percent markup = (markup / cost price) x 100%
percent markup = ($34 / $26) x 100%
percent markup = 130.77%
So the original markup was 130.77%, which is closest to choice D ($34).

A Retailer Bought a Collectible Precious Moments Figurine for $26