Question

Convert a 30% markup percent on cost to markup percent on selling price. (Round to the nearest hundredth percent.)

Answer 1

Answer:

Option C

23.08% markup on selling price.

Step-by-step explanation:

Given in the question,

markup percentage on cost price = 30%

To find,

markup percentage on selling price

Markup is the ratio between the cost of a good or service and its selling price.

Let suppose that cost price percentage = 100%

As we know that,

cost% + markup%  = selling%

100% + 30% = 130%

So percent markup selling price = 30 / 130 x 100

                                                        = 23.0769

Hence, 30% markup on cost price = 23.0769% markup on selling price.