algebra word problem about % solve the equation

Question

 

Abby owns her own sports shop.  She buys football jerseys for $20 each and sells them for $45 each.  What is the percent markup of each jersey?

A.  Write an algebraic equation for the problem?

B.  Solve your equation and label your answer.

 

Answer 1

set variables for the problem.

purchase price of jerseys=p

sale price of the jerseys=s

dollar markup amount=d

percent markup=m

s-p=d

45-20=25

d/p=m

25/45=.555

convert that to a percentage by moving the decimal point 2 places to the right and adding a percent sign.

m=55.5%