A. Wyatt’s Western Wear purchases shirts for $47.50 each. A $34.00 markup is added to the shirts. What is the selling price?

Question

B.What is the percent markup based on cost for the shirts in the previous question? (Round percent to the nearest tenth.)

Answer 1

Selling price
= cost + markup
= 47.5 + 34 = $81.50

Mark-up base on cost
= mark-up/cost
= 34 / 47.5
= 71.6%