Question

What is the markup percent on a diamond for which the markup is $870 and the selling price is $2870?

Answer 1

Answer:

30.31%

Step-by-step explanation:

Mark up on selling price is given by markup*100%/selling price

In this case, markup is given as $870 while the selling price is $2870 hence the percentage of narkup to selling price will be given by $\frac {870\times 100}{2870}=30.313588850174\approx 30.31$

Therefore, the percentage of markup to selling price is approximately 30.31%