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Percent markup

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You belong to a wholesale buying club. You can order items from the club with a markup of 8% over the wholesale price. A local retail store, which gets its merchandise at the same wholesale price, offers to sell you those same items at 10% off the shelf price. What does the retail store's markup have to be for it to be cheaper for you to buy through your club? Show your work and explain your thinking.

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Solution Summary

This provides an example of working with a problem regarding percent markup and club store shopping.

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Value definition:
w=wholesale price
r=retail shelf price
cP=club price
sP=store price

cP = w * 1.08 (remember the 8% ...

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