vicky, an accountant, observes that her company purchased fish bowls at a cost of $2 and is currently…

vicky, an accountant, observes that her company purchased fish bowls at a cost of $2 and is currently selling them at a price of $4. what percentage is the mark - up? write your answer using a percent sign (%).

vicky, an accountant, observes that her company purchased fish bowls at a cost of $2 and is currently selling them at a price of $4. what percentage is the mark - up? write your answer using a percent sign (%).

Answer

Explanation:

Step1: Calculate the markup amount

Markup amount = Selling price - Cost price. So, $4 - 2= 2$.

Step2: Calculate the markup percentage

Markup percentage = $\frac{\text{Markup amount}}{\text{Cost price}}\times100%$. Substitute the values: $\frac{2}{2}\times100% = 100%$.

Answer:

100%