Question

A sofa costing $380.00 is sold for $553.66. Find the markup rate. Round to the nearest tenth of a percent.

Answer 1

The markup price is the difference between the selling price and the total cost. Then, we have that:

`M=553.66-380.00\rightarrow M=173.66`

If we round it to the nearest tenth, then we have M = $173.7