Help me solve this percentage problem?

Question

It's a really easy problem; I just don't know how to do it:

The cost to a furniture manufacturer for making a sofa is $320. The manufacturer then sells the sofa for $496. What is the markup rate?

Please tell me how to solve the problem. (I have a ton of other ones just like it)

Thank you very much!!! :)

Now that I have that one figured out, how do I solve this one?

Alex Stowe's hosue was reassessed at $126,000, up $6,000 from the last assessment. What was the percent increase?

Answer 1

The general equation you are looking for is:

(new price - old price) / old price

so for this problem:

(496 - 320) / 320 = 176 / 320 = .55

The mark-up is 55%

Good Luck~

Answer 2

Markup rate is the percentage calculated when the markup is divided by the manufacturing price, because you wanted to see your profit percentage.

I'm pretty sure this is how you do it...

First find the markup, which is the selling price minus the manufacturing price.
$496 - $320 = $176

Then find the percentage(markup rate) the markup is of the manufacturing price. (After all, the markup is a percentage of the manufacturing price, and you're trying to find it.)
P(percent) * $320 = $176
P =$176/$320

The result is a fraction, which you convert into a percentage(%).

Answer 3

You find the difference between the two values,take that value,and divide IT by the starting value (the value by which all other results are referenced)...so you get 176/320...and if you need a percentage,you gotta multiply the reult by 100

Answer 4

You subtract the two numbers. Use that number to divide it from 320. That would be the % increase. Hope that helps.

Answer 5

subtract 320 from 496???
sry

Answer 6

ooh markup, my sorreys to you but I don't know this easy math, so I shalln't touch it...

Lupishyathore-Gire Shyathorekechcheyyekka