A store manager paid $124 for an item and set the selling price at $176.08. What was the percent markup?

The percent markup is calculated using the formula:

\[
\text{Percent Markup} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100
\]

Substituting the given values:

\[
\text{Percent Markup} = \left( \frac{176.08 - 124}{124} \right) \times 100
\]

\[
\text{Percent Markup} = \left( \frac{52.08}{124} \right) \times 100 \approx 42\%
\]

So, the percent markup is approximately **42%**.

Would you like more details or have any questions?

Here are 5 related questions:
1. How would the markup change if the selling price was reduced to $160?
2. What is the profit if the store sells 10 of these items at $176.08 each?
3. What selling price would result in a 50% markup?
4. If the store had a 10% discount on this item, what would the final price be?
5. How can you calculate percent markup if given a total revenue?

**Tip:** Percent markup is based on cost price, not selling price!

Find out how to calculate the percent markup when a store manager sets the selling price at $176.08 after paying $124 for an item. This step-by-step guide explains the formula and key concepts behind profit calculation and markup percentage. Ideal for students in Grades 6-8.

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