Solve the problem.

A store manager paid $20 for an item and set the selling price at $27.80. What was the percent markup?

41%

39%

28%

38%

39%

Step-by-step explanation:

Let's find the answer by using the following formula:

selling price = (paid price) + ((paid price) * (percent markup)) which can be written as:

percent markup = ((selling price) - (paid price)) / (paid price)

percent markup = (27.80-20) / 20

percent markup=0.39=39%

In conclusion, the percent markup is 39%.