A bicycle has a listed price of $813.95 before tax. If the sales tax rate is 8.5%, find the total cost of the bicycle with sales
2 answers:
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The markup percentage is 45.14%
Step-by-step explanation:
The given is:
- The selling price of a box of crackers is $1.75
- You mark the crackers up to $2.54
We need to find the markup percentage
The markup percentage = × 100%
∵ The selling price of a box of crackers is $1.75
∴ Old = 1.75
∵ You mark the crackers up to $2.54
∴ New = 2.54
- Substitute these values in the rule above
∵ The markup percentage = × 100%
∴ The markup percentage = × 100%
∴ The markup percentage = 0.4514 × 100%
∴ The markup percentage = 45.14%
The markup percentage is 45.14%
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