A store owner bought a painting for $120. She is selling it for $190. What is the percent markup on the painting?

1 Answer
EZ as pi · Chirag Mehta · Teun
Dec 18, 2016

#58.33%#

Explanation:

#"Percentage increase" = ("final value" - "initial value")/"initial value" ×100%#

#= (190-120)/120×100%#

#=(70/120)*100%#

#=700/12 =58.33#

The level of accuracy required depends on the situation and the original instructions/convention.

This can be 1 decimal place or 2 decimal places, or often 3 significant figures.

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