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Blake, an accountant, observes that his company purchased coffee tables at a cost of $20
and is currently selling them at a price of $56. What is the mark-up percentage?

Respuesta :

opudodennis

Answer:

180%

Step-by-step explanation:

-Markup price is defined as the difference between a product's selling and cost prices.

#We subtract the cost price from the selling price to determine the markup price:

[tex]Markup=Selling \ Price-Cost Price\\\\=56-20\\\\=\$36[/tex]

-The markup percentage is the markup price expressed as a percentage of the cost price and is calculated as follows:

[tex]Markup \ Percentage=\frac{Markup}{Cost \ Price}\times 100\%\\\\=\frac{36}{25}\times 100\%\\\\=180\%[/tex]

Hence, the markup percentage is 180%

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