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OpenStudy (thecatsintrees):
Assume markup is based on cost. Find the dollar markup and selling price for the following problem. Cost = 400 Markup Price = 40% what is the dollar markup and selling price? I have the formula to get the dollarmarkup and to get the percent markup cost but in order to do that I need the selling price, so I think I have the wrong formula. Can someone explain how to do this correctly?
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OpenStudy (nincompoop):
always go with the definition of terms and all will be easier to understand
OpenStudy (anonymous):
dollar markup is $160 and selling price is $560
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