Question

A local water supplier business charges a php 22.50 per cubic meter of the water consumption. The next month charge will be 23.15 per cubic meter. Find the mark Up rate. A) 2.5% B) 2.89% C) 2.69% D) 2.7%

Answer 1

The markup rate when the water consumption price per cubic meter raises from php 22.50 to php 23.15 is calculated using the percentage increase formula. This equates to 2.89%, which corresponds to option B.

Step-by-step explanation:

The subject of the question is determining the markup rate when the water consumption price per cubic meter raises from php 22.50 to php 23.15. This is a mathematics problem specifically related to percentage increase calculation. The percentage increase can be calculated using the formula: (New Price - Old Price)/Old Price x 100%. Substituting the given values, this equates to: (23.15 - 22.50)/22.50 x 100% = 2.89%. So, the markup rate is 2.89%, option B.

Learn more about Markup Rate