To determine the percentage markup, we first need to find the dollar amount of the markup and then calculate the percentage markup based on the buying price.
1. Start by identifying the buying price and the selling price:
- Buying price = [tex]$0.45
- Selling price = $[/tex]1.75
2. Next, calculate the dollar amount of the markup by subtracting the buying price from the selling price:
- Markup in dollar amount = Selling price - Buying price
- Markup in dollar amount = [tex]$1.75 - $[/tex]0.45
- Markup in dollar amount = [tex]$1.30
3. Now, find the percentage markup. To do this, divide the markup in dollar amount by the buying price and then multiply by 100 to convert it to a percentage:
- Percentage markup = (Markup in dollar amount / Buying price) × 100
- Percentage markup = ($[/tex]1.30 / $0.45) × 100
- Percentage markup ≈ 288.89%
Thus, the percentage markup is approximately 288.89%. Since we need to select the closest option from the given choices, the correct answer is:
B) 288%
