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| *Vultures Knob>>>Bicycle Shop |
A bicycle shop buys a new bike for $350 and sells it for $455. What is the % of increase after the markup? |
What is the amount of the markup? and What is the percent of increase after the markup? The percent of the markup is 30%. 350x.30=105 The markup 455-350=105 So the markup is 30% of the original price. $105 23.33% 23.08% You have forgotten to take into account the cost of labor for putting the bike together. The cost of labor for a qualified bike mechanic varies by market, but realistically in the US you are looking at $15-18 per hour and most manufacturers expect a bike to be built somewhere between .75 to 1.5 hours, so while I won't get into the markups as the others have, one major factor is being left out of your calculation, just thought I would share that! Been a bike mechanic and salesperson for YEARS! I hope your not doing any math homework on yahoo answers. |
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