Asked by Heyhi
Icelandic skis are marked up 75% on cost. What is the equivalent rate of markup based on selling price?
Answers
Answered by
Reiny
let the cost price be x
then selling price = 1.75x
profit = .75x
rate based on selling price
= .75x/1.75x = 75/175 = .42847.. or appr 42.8%
then selling price = 1.75x
profit = .75x
rate based on selling price
= .75x/1.75x = 75/175 = .42847.. or appr 42.8%
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