Answer:
The mark-up percentage is 70%
Step-by-step explanation:
Let us revise the rule of the mark-up percentage
[tex]M=\frac{S-P}{P}[/tex] × 100%, where
- M is the mark-up percentage
- P is the purchasing price
let us use this rule to solve the question
∵ The buyer purchased leather couches in bulk, paying $750 each
∴ P = 750
∵ The stores will sell each leather couch for $1,275
∴ S = 1,275
→ Substitute them in the rule above
∴ [tex]M=\frac{1275-750}{750}[/tex] × 100%
∴ [tex]M=\frac{525}{750}[/tex] × 100%
∴ M = 70%
∴ The mark-up percentage is 70%
