The cost to a store for a box of cereal is $2.50. the store is selling the cereal for $3.50. what is the percent of the markup?

So if the store bought the cereal at $2.50 and sold it for $3.50 there is a $1 markup.  This in terms of percentages is 1/2.50 = 0.4, which is a 40% markup. 

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