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Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.ItemCostTextbook $31.11Need Help?Amount ofMarkup (in $)$ 21.39Read ItSelling Price$52.50PercentMarkupBased onSelling Price* %

Calculate the missing information. Round dollars to the nearest cent and percents-example-1

1 Answer

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Given: The selling price is $52.50 and the cost price is $31.11.

To find: Percent Markup based on selling price.

Explanation:

The percentage markup based on selling price will be:


M=(S.P.-C.P.)/(S.P.)*100

Plug the value S.P.= 52.20 and C.P.=31.11 in the above formula to get:


\begin{gathered} M=(52.50-31.11)/(52.50)*100 \\ =(21.39)/(52.50)*100 \\ =40.98\% \end{gathered}

Rounding it to the nearest tenth percent we get 41.0%

Final Answer: The percent markup is 41%.

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