Problema Solution
A gas station purchases gasoline from a refinery at the unit price of $3.25 per gallon and sells it to their customers at $3.64 per gallon. What is the percent mark up?
Answer provided by our tutors
Markup percent = (Sale price − Cost) / Cost
Markup percent = (3.64 − 3.25) / 3.25
Markup = 0.12 or 12%
The percent markup based on cost is 12%.