A tie pin which sells for $200.00 has a markup rate of 30% on the selling price. Find the amount of the markup and the cost. Options

Markup Amount = $50.00, Cost = $150.00
Markup Amount = $60.00, Cost = $150.00
Markup Amount = $60.00, Cost = $140.00
Markup Amount = $70.00, Cost = $130.00

Question

A tie pin which sells for $200.00 has a markup rate of 30% on the selling price. Find the amount of the markup and the cost. Options

Markup Amount = $50.00, Cost = $150.00
      Markup Amount = $60.00, Cost = $150.00
      Markup Amount = $60.00, Cost = $140.00
      Markup Amount = $70.00, Cost = $130.00

anonymous · Answer

30% of $200 can be written as 0.30 x 200 = 60
so the markup is $60

The cost is $200 - $60 (markup) = $140