Question

CHECK YOUR UNDERSTANDING

Answer 1

Answer:

Retail price = $5.20

Percentage of mark up price = 30%

Step-by-step explanation:

Company sells $4.00 each wholesale.

Now the local store which is the retailer has a markup of $1.20.

This means that the retail price is;

Retail price = wholesale price + mark up = $4.00 + $1.20

Retail price = $5.20

To find the percentage of the markup, it is the fraction of the wholesale price multiplied by 100%.

Thus;

Percentage of Markup is;

1.2/4 × 100% = 30%