Astorepays$751forasurfboardandmarksthepriceupby42%.Whatistheamountofthemark-up?
Question
Astore pays $751 for a surfboard and marks the price up by 42%. What is the amount of the mark-up?
Solution
1. Break Down the Problem
We need to determine the amount of the markup on a surfboard that initially costs $751, which is then marked up by 42%.
2. Relevant Concepts
To find the markup amount, we can use the formula:
3. Analysis and Detail
- Identify the original price of the surfboard:
- Identify the markup percentage:
- Substitute the values into the markup formula:
4. Verify and Summarize
Now, calculate the markup amount:
Final Answer
The amount of the markup is $315.42.
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