QuestionJuly 25, 2025

Question Jamal bought a rare baseball card for 245 dollars. He then resold it for 750 What markup rate did Jamal use to calculate the sales price of his baseball card? Write your answer as a percentage rounded to the nearest whole number. Provide your answer below: square %

Question Jamal bought a rare baseball card for 245 dollars. He then resold it for 750 What markup rate did Jamal use to calculate the sales price of his baseball card? Write your answer as a percentage rounded to the nearest whole number. Provide your answer below: square %
Question
Jamal bought a rare baseball card for 245 dollars. He then resold it for 750 What markup rate did Jamal use to calculate
the sales price of his baseball card? Write your answer as a percentage rounded to the nearest whole number.
Provide your answer below:
square %

Solution
4.7(273 votes)

Answer

206\% Explanation 1. Calculate the Markup Amount Subtract the purchase price from the selling price: 750 - 245 = 505. 2. Calculate the Markup Rate Use the formula for markup rate: **\text{Markup Rate} = \left(\frac{\text{Markup Amount}}{\text{Original Price}}\right) \times 100**. Substitute the values: \left(\frac{505}{245}\right) \times 100. 3. Compute and Round the Percentage Calculate: \left(\frac{505}{245}\right) \times 100 \approx 206.12. Round to the nearest whole number: 206\%.

Explanation

1. Calculate the Markup Amount<br /> Subtract the purchase price from the selling price: $750 - 245 = 505$.<br /><br />2. Calculate the Markup Rate<br /> Use the formula for markup rate: **$\text{Markup Rate} = \left(\frac{\text{Markup Amount}}{\text{Original Price}}\right) \times 100$**. Substitute the values: $\left(\frac{505}{245}\right) \times 100$.<br /><br />3. Compute and Round the Percentage<br /> Calculate: $\left(\frac{505}{245}\right) \times 100 \approx 206.12$. Round to the nearest whole number: $206\%$.
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