Question

The oak house had a markup of $21.72 on an oak table that they sold for $69.99 find the cost and the percent of markup. round amounts to the nearest cent and percents to the nearest 10th of a percent

Answer 1

Finding the cost

To find the cost of the oak table, subtract the markup to the sell price

$69.99 - $21.72 = $48.27

The cost of the oak table therefore is $48.27.

Next, divide the markup to the cost of the oak table to determine the percent of markup.

$21.72 ÷ $48.27 = 0.4499689

Multiply the result by 100%

0.4499689 × 100% = 44.99689%

Rounding off to the nearest tenth of a percent, the percent of mark up is 45.0%