The bookstore buys a set of novels for \$120 and sells it for \$150. What percent did they mark up?

• A. $20\%$
• B. $25\%$
• C. $30\%$
• D. $15\%$

Answer: (B)

Verified step by step guidance

1. Identify the cost price (C) and the selling price (S). Here, the cost price is \$120 and the selling price is \$150.
2. Calculate the amount of markup by subtracting the cost price from the selling price: \(\text{Markup} = S - C\).
3. To find the percent markup, divide the markup amount by the cost price: \(\frac{\text{Markup}}{C}\).
4. Convert the decimal result to a percentage by multiplying by 100: \(\left( \frac{\text{Markup}}{C} \right) \times 100\).
5. Express the final answer as a percent to indicate how much the bookstore marked up the price.