Question

Assume that markup is based on selling price. Find the dollar markup and percent of markup on selling price. (Round your "Dollar markup" answer to the nearest cent and "Percent markup on selling price" to the nearest tenth percent.)
Cost Selling price Dollar markup Percent markup on selling price
$15.40 $52.00

Answer 1

Answer:

70.38%

Explanation:

Dollar Markup = Selling price - Cost price

Dollar Markup = $52.00 - $15.40

Dollar Markup = $36.60

% markup on selling price = Dollar Markup / Selling price * 100

% markup on selling price = $36.60/$52.00 * 100

% markup on selling price = 0.703846154 * 100

% markup on selling price = 70.38%