Asked by roseann
Find the markup rate on the cost of an item that is equivalent to a 33% markup on the selling price
Answers
Answered by
oobleck
if 1/3 of the selling price is markup, 2/3 is the cost
1 / (2/3) = 3/2 = 1.50, or a 50% markup based on cost
1 / (2/3) = 3/2 = 1.50, or a 50% markup based on cost
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