Number of shirts a department store bought = 200
Cost price of 200 shirts = $5400
Cost price of 1 shirt :
[tex] =\tt \frac{5400}{200} [/tex]
[tex]\color{plum} =\tt \$27[/tex]
Thus, the cost price of one shirt = $27
Price at which the department store sold each shirt = $30
Which means :
▪︎Cost price of shirt = $27
▪︎Selling price of shrit = $30
Since selling price is greater than cost price, there was a markup in the price of the shirts.
We know that :
[tex] \color{hotpink}\tt \: markup \: percentage = \color{plum} \frac{selling \: price - cost \: price}{cost \: price } \times 100[/tex]
Markup percentage in the price of the shirts :
[tex] = \tt \frac{30 - 27}{27} \times 100[/tex]
[tex] = \tt \frac{3}{27} \times 100[/tex]
[tex] = \tt \frac{3 \times 100}{27} [/tex]
[tex] = \tt \frac{300}{27} [/tex]
[tex] \color{plum} = \tt11.1 \%[/tex]
Thus, the percentage of markup = [tex] \tt 11.1 \% [/tex]
Therefore, the percentage of markup in the shirt's price = [tex] \color{hotpink} \tt11.1 \% [/tex]
