Question

The washing machine had a selling price of P4,792. It had been marked up by P1,248. What was the cost? What was the mark-up rate?​

Answer 1

Answer:

The cost of the washing machine is P 3,544

The mark-up rate is 35.21%

Step-by-step explanation:

1. We want to calculate the cost

Mathematically, this is the difference between the selling price and the mark up

We have this as;

4,792 - 1,248 = P 3,544

2. Here, we want to calculate the mark-up rate

Mathematically, this is the percentage of mark-up

That is;

mark-up/cost price * 100%

: 1,248/3,544 * 100% = 35.21%