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marin [14]
2 years ago
8

If the rate of markup on selling price is 40%, what is the rate of markup on cost.

Mathematics
1 answer:
pishuonlain [190]2 years ago
4 0
If your customer sees a ticket price of $18.33 on the item and knows you paid $11.00 and marked it up $7.33, then he calculates $7.33 as 40% of $18.33. Thus your cost of $11.00 is 60% of $18.33.
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This question is asking for a list of fractions, that when you pull out common factors, they will all simplify back to the 8/5 fraction.

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