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Adam's art gallery bought a photograph for $250 and marked the price up 40%. What was the amount of the mark-up?
A$40
B$100
C$350
D$210
Answer & Solution
Correct answer: B. $100
1. Let m equal the amount of mark-up.
2. The mark-up is 40% of the original cost, so m equals 0.40 times 250.
3. Multiplying gives m equals 100.
4. The mark-up on the photograph was $100.
_Source: OpenStax Elementary Algebra (CC BY 4.0), Ch 3 "Math Models", section 3.2 Solve Percent Applications_
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