Question

At The Luminary, the markup on a halogen light fixture is 50% based on selling price. What is the corresponding percent markup based on cost?

Answer 1

Unless I'm missing something, I don't see how this question provides enough information to answer it. Is this a smaller part of a longer form question? Is this based on an economic theory perhaps?

Answer 2

Unless there is some other fact missing, I would guess they are conflating selling price and cost, and the answer is 50%...

Answer 3

this is business math deal with markup and markdown

Answer 4

ok well then lets see.

if the selling price were $100 and the markup was %50 based on that that implies $50 of profit, meaning the cost is also $50.

so if the cost is $50 and the markup is $50 then the markup based on the cost is %100 (meaning you are not only making back the $50 you spent to get the product, you are making another $50 on top of that).

so i stand corrected i guess you can answer the question and the answer is %100

does that make sense?