Try to understand this. Hope this help. Answer for 2 only.
Hi, do you know how to get the ratio?
1 answer:
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Answer:
The markup percent on the painting is 58.3%
Step-by-step explanation:
Here, The Cost price of the painting = $120
The selling price of the painting = $190
Hence, the total profit on the painting = Cost Price - Selling price
or Profit = $190 - $120 = $70
Now, Markup % = (Gross Profit / cost) x 100
⇒Markup % =
Hence, the markup percent on the painting is 58.3%