if 20% of the selling price is the discount,
cost = 0.80 * 155 = 124
based on a cost of 124,
155 = 124 * 1.25
so it's a 25% markup
Misu Sheet, owner of the Bedspread Shop, knows his customers will pay no more than $155 for a comforter. Misu Sheet wants to advertise the comforter as "percent markup on cost."
a. What is the equivalent rate of percent markup on cost compared to the 20% markup on selling price? (Round your answer to the nearest hundredth percent.)
1 answer
1 answer