Question

3. Assume markup is based on cost. If the cost of a table is $62 and sells for $110, what is the percent of markup based on cost? Round to nearest hundredth percent.

Answer 1

take the sales price minus the unit cost, and divide that number by the unit cost then multiply by 100
So it would look like 110-62 = 48 Then (48/62)100

Answer 2

After that round the nearest to the hundredth and you will get a whole number