Say you have a 5% markup on a $30 item
then the markup is just
$${\frac{{\mathtt{5}}}{{\mathtt{100}}}}{\mathtt{\,\times\,}}{\mathtt{30}} = {\frac{{\mathtt{3}}}{{\mathtt{2}}}} = {\mathtt{1.5}}$$
which is $1.50
The new price will be $31.50
Sorry, I have done this the wrong way around. Sorry
I'll do it again
original price = $30
new price = $31.50
Markeup = (31.50-30)/30 * 100 percent =5%
$${\frac{\left({\mathtt{31.5}}{\mathtt{\,-\,}}{\mathtt{30}}\right)}{{\mathtt{30}}}}{\mathtt{\,\times\,}}{\mathtt{100}} = {\mathtt{5}}$$