Question

Red jeans inc. sells jeans that cost $16.55 for a selling price of $35.99. The percent of markup based on cost is

Answer 1

This would be (35.99 - 16.55) * 100
------------------- = 117.5 %
16.55

Answer 2

Markup percent = 117.50%

Explanation:

Markup percent = (sales price - unit cost)/unit cos *100

Given: Unit cost = $16.55, sales price = $35.99

Now plug in these given values in the above formula, we get

Markup percent = (35.99 - 16.55)/16.55 *100

= (19.44/16.55)*100

= 117.50%

Hope this will helpful.

Thank you.