A home costs $148,500 to build and is sold for $168,000. What is the percent markup on selling price (to the nearest tenth of a percent)?
Group of answer choices

8.6%

13.1%

11.6%

7.6%

To calculate the percent markup on the selling price, we use the formula:

\[
\text{Percent Markup} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100
\]

Here:
- Cost Price = $148,500
- Selling Price = $168,000

Substitute these values into the formula:

\[
\text{Percent Markup} = \left( \frac{168,000 - 148,500}{148,500} \right) \times 100
\]

\[
\text{Percent Markup} = \left( \frac{19,500}{148,500} \right) \times 100
\]

\[
\text{Percent Markup} = 0.1313 \times 100 = 13.1\%
\]

So, the percent markup is **13.1%**.

Do you have any questions or would you like further details?

Here are 5 related questions:
1. How do you calculate markup if the selling price is unknown?
2. What is the formula for calculating a discount percentage?
3. How does markup differ from profit margin?
4. If the cost price increases, how does it affect the markup percentage?
5. How can the selling price be adjusted to achieve a specific markup?

**Tip:** When calculating percentages, ensure you're consistent with the base values (cost price vs. selling price).

A home costs $148,500 to build and is sold for $168,000. What is the percent markup on selling price (to the nearest tenth of a percent)?

Find out how to calculate the percent markup on the selling price of a home that costs $148,500 to build and is sold for $168,000. This problem involves key arithmetic concepts and the formula for percent markup, ideal for students in Grades 6-8.

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