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Pete's Deli sells corned beef at $2.55 per pound. It pays its wholesaler $1.95 per pound. What is the markup rate based on A) cost and B) selling price? (Round to nearest tenth percent.)

Respuesta :

Answer:

Step-by-step explanation:

Given

Selling price [tex]S.P.=\$ 2.55[/tex]

Cost price [tex]C.P.=\$ 1.95[/tex]

we know marked up price is

[tex]C.P.+markup=S.P.[/tex]

Markup[tex]=2.55-1.95=\$ 0.6[/tex]

So markup according to cost price

[tex]\Rightarrow \frac{0.6}{1.95}\times 100=30.76\ \%[/tex]

Markup according to the selling price

[tex]\Rightarrow \frac{0.6}{2.55}\times 100=23.52\ \%[/tex]

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