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You own a beauty salon where you not only cut hair but you also sell hair products. You buy a dozen barrettes for $18.00 and then sell them in your store for $2.00. You want to calculate your percent mark up.
To do so, you multiply 2 by 12, subtract 18 and then divide by 12. Is this correct?
Yes your method is correct. But you will need to express it in percentage in the end. So, 2 x 12 ( dozen ) = 24 24 - 18 = 6 6 / 12 = 0.5 $6 is how much you earned by selling 12 hair products. Hence, $0.50 is how much you earned per bottle. Transfering 0.5 into percentage would be 0.5 x 100.
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