Courses
Courses for Kids
Free study material
Offline Centres
More
Store Icon
Store

A store employee creates a display of golf balls priced at \[Rs.\,71\] a piece. The store paid $Rs.\,25$ for each golf ball. What the percentage is the mark-up $?$ Answer In percentage sign $\left( \% \right)$

seo-qna
Last updated date: 20th Jun 2024
Total views: 395.4k
Views today: 8.95k
Answer
VerifiedVerified
395.4k+ views
Hint:
In this question the marked price of the golf balls are given and also the cost price of the golf balls are given. Here, in this question the marked price is higher so the store employee will get profit. Therefore from the marked price and the cost price we can find the profit and then from the profit we can easily find the mark-up percentage.

Formula used:
The formula for profit percentage is given by ${\text{Profit\% }} = \dfrac{{{\text{Profit}}}}{{{\text{Cost}}\,{\text{Price}}}} \times 100$ .

Complete step by step solution:
The mark price of the golf balls is given \[Rs.\,71\] for a piece. The cost price of the golf balls is also given $Rs.\,25$ for each golf ball.
Now, from the mark price and the cost price we can find the profit the store gets for each golf ball.
$ \Rightarrow Rs.\,71 - Rs.\,25 = Rs.\,46$
Therefore, the store gets $Rs.\,46$ for each golf ball.
Now, we will find the percentage increase in price on each ball.

Percentage increase in price is $ = \dfrac{{46}}{{25}} \times 100 = 184\% $

Note:
In this question the important thing is that the store employee has increased the price on the golf balls and therefore the store employee will get profit if he is selling the golf balls at the marked price. The profit percentage the store employee earns is calculated on the cost price of the golf ball and not on the marked price of the golf ball. So, be careful while calculating the profit percentage.