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Flura [38]
3 years ago
11

Pete's Deli sells corned beef at $2.55 per pound. It pays its wholesaler $1.95 per pound. What is the markup rate based on A) co

st and B) selling price? (Round to nearest tenth percent.)
Mathematics
1 answer:
FinnZ [79.3K]3 years ago
4 0

Answer:

Step-by-step explanation:

Given

Selling price S.P.=\$ 2.55

Cost price C.P.=\$ 1.95

we know marked up price is

C.P.+markup=S.P.

Markup=2.55-1.95=\$ 0.6

So markup according to cost price

\Rightarrow \frac{0.6}{1.95}\times 100=30.76\ \%

Markup according to the selling price

\Rightarrow \frac{0.6}{2.55}\times 100=23.52\ \%

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