7. jennys fabric store can buy silk for $12.00/m from a wholesale fabric distributor. jenny marks up the…

7. jennys fabric store can buy silk for $12.00/m from a wholesale fabric distributor. jenny marks up the cost of the silk, and then sells it for $19.00/m. what is the percent markup?

7. jennys fabric store can buy silk for $12.00/m from a wholesale fabric distributor. jenny marks up the cost of the silk, and then sells it for $19.00/m. what is the percent markup?

Answer

Explanation:

Step1: Calculate markup amount

$$19.00 - $12.00 = $7.00$

Step2: Compute percent markup

$\frac{$7.00}{$12.00} \times 100% \approx 58.33%$

Answer:

The percent markup is approximately 58.33%