Answer: C. 56%
Step-by-step explanation:
Given : The cost of MP3 player = $64.25
The selling price of MP3 player = $99.99
We know that the mark up price = [tex]\$99.99-\$64.25[/tex]
thus, the mark up price= [tex]\$35.74[/tex]
Now the percent of mark up = [tex]\frac{\text{S.P.-C.P.}}{\text{C.P.}}\times100[/tex]
⇒ The percent of mark up = [tex]\frac{35.74}{64.25}\times100[/tex]
⇒ The percent of mark up = [tex]55.6264\%\approx56\%[/tex]
Hence, the mark up percent = 56 %
