Nakesha’s Sporting Goods is running a sale on golf shoes this week. The sale price is $95.98. The shoes cost Nakesha’s $63.45. W
hat is the markup rate based on cost?
1 answer:
Answer:
Markup rate = 0.512 or 51.2%
Step-by-step explanation:
Mark up rate is the increase amount added to the original price.
Sales Price = $95.98
Original Price= $63.45
Gross profit margin = Sales Price - Original cost
= $95.98 - $63.45
= $ 32.53
Mark up Rate = Gross profit margin/ original price
= 32.53 / 63. 45
= 0.51
converting into percentage by multiplying with 100
Mark up Percentage = 0.512 * 100
= 51.2 %
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