Assume markup is based on cost. Find the dollar markup and selling price for the following problem. (Round your answers to the n

Question

2 years ago

13

earest cent.)
Dollar markup
Selling price
Item
Burberry men's watch
Cost
$490
Markup percent
40%

1 answer:

Bas_tet [7] · Answer 1 · 2022-06-14T01:55:00+03:00

Answer:

<h2>The selling price of the product = $686</h2><h2>The markup of the selling price = 28.5 %</h2>

Step-by-step explanation:

Given that the markup percent is based on the cost of the product.

The cost of Burberry men's watch = $490

Markup percent = 40 %

= 40 % (490) = $196

The new selling price of the product = 196 + 490 = $686

The markup percent of the selling price , (x%)686 = 196

x = 28.5 %

The markup is 28.5 % of the selling price