Question

French Co. marks up its goods 45% on cost. What is French's equivalent markup on selling price? Round to nearest hundredth percent

Answer 1

can anyone help me?

Answer 2

Let CP = cost price
Let SP = Selling price = CP + 0.45CP
Mark up = 0.45CP
Ratio of Mark up to Selling price = 0.45CP/(CP + 0.45CP) = 0.45/(1+0.45)

Answer 3

Can you follow the working and find the answer?

Answer 4

ugh im kinds confused. what wud the cp be than?

Answer 5

CP can be any price. Notice that the CP cancels out in the working.

Answer 6

so would it be 1.65?

Answer 7

No. The ratio of Mark up to Selling price is 0.45/(1+0.45)=0.45/1.45=0.3103.
So what is the percentage mark up on the selling price?

Answer 8

i have no clue >.<

Answer 9

im sorry. its 1 am. i have 2 questions left and im really confused and not good at math

Answer 10

It is 0.3103 multiplied by 100 = 31.03%

Answer 11

so since it says roud to nearest hundreth percent it wud be 31% or wud it just be 31.03%

Answer 12

One hundreth of a percent is .01%. So 31.03% is correct.

Answer 13

oooooh okay thank you sooo much