Question

boeing plans to increase its price for jetliners. with a selling price $201.5 million and a cost of $190.1 million, what was the approximate percent markup based on cost?

Answer 1

so from 190.1 to 201.5 is 201.5 - 190.1 = 11.4.

now, if we take 190.1 as the 100%, what is 11.4 off of it in percentage?

`\bf \begin{array}{ccll} amount&\%\\ \cline{1-2} 190.1&100\\ 11.4&x \end{array}\implies \cfrac{190.1}{11.4}=\cfrac{100}{x}\implies 190.1x=1140 \\\\\\ x=\cfrac{1140}{190.1}\implies x\approx 5.99684`

Answer 2

5.9%

Explanation:

Find the difference between 201.5 mil and 190.1 mil

201.5 - 190.1 = 11.4 mil

divide 11.4 mil by 190.1 mil to get the percentage

11.4 / 190.1 = 0.0599

move your decimal twice to get percent

5.9%