Chapter 6.5, Problem 31IP

To determine

To find: Percentage of change.

Answer to Problem 31IP

Percent of change is $25.6\%$

Percent of change is a Markup.

Explanation of Solution

Given information:

Original price $=\$227$

Selling price $=\$285$ .

Concept:

Percent of change $=\frac{A}{O}\times 100$

Where

  $A=$ Amount of change.

  $O=$ Original price.

From given information

Original price $=\$227$

Selling price $=\$285$ .

Amount of change = Selling price $-$ Original price

  $\begin{array}{l}\Rightarrow A=285-227\\ \Rightarrow A=58\end{array}$

Therefore,

Percent of change $=\frac{58}{227}\times 100$

  $\Rightarrow$ Percent of change $=\frac{5800}{227}$

  $\Rightarrow$ Percent of change $=25.5506$

To nearest tenth, the Percent of change is $25.6\%$ and Positive sign indicates that percent of change is a Markup.