Answer: the percent markupon cost is 373.31%
Explanation:
How do i determine the percent markup on cost?From the question given above, the following data were obtained:Selling price = $79. 99 Cost price = $16. 9Gain = Selling price - cost price = 79.99 - 16.9 = $63.09Percent markup on cost =?The percent markup on cost can be obtain as illustrated below:Percent markup on cost = (Gain / cost prize) × 100 = (63.09 / 16.9) × 100 = 373.31%