Question

Given a Selling Price of $153.60 and a Cost of $68.98 find the Percent Markup on Cost. Round to the nearest percent

Answer 1

`\text{ 55\%}`

Step-by-step explanation:

Here, we want to calculate the percentage markup

Mathematically, we can get that using the formula below:

`\text{ \% markup = }\frac{\text{ selling price - cost price}}{\text{ cost price}}\text{ }*\text{ 100 \%}`

By substituting the given values, we have it that:

`\begin{gathered} \text{ \% markup = }(153.6-68.98)/(68.98)\text{ }*\text{ 100\% } \\ \\ \text{ \% markup = 55\%} \end{gathered}`