Question

Blake, an accountant, observes that his company purchased coffee tables at a cost of $20

Answer 1

Answer:

180%

Step-by-step explanation:

-Markup price is defined as the difference between a product's selling and cost prices.

#We subtract the cost price from the selling price to determine the markup price:

$Markup=Selling \ Price-Cost Price\\\\=56-20\\\\=\ 36$

-The markup percentage is the markup price expressed as a percentage of the cost price and is calculated as follows:

$Markup \ Percentage=\frac{Markup}{Cost \ Price}\times 100\%\\\\=\frac{36}{25}\times 100\%\\\\=180\%$

Hence, the markup percentage is 180%