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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

There are two ways of expressing markup as a percent: based on __________ and based on _________ _____. (8-2)

To determine

To fill: The blank space provided in the statement, “There are two ways of expressing markup as a percent: based on               and based on                            ”.

Explanation

The Markup is expressed as a percent, based on selling price and cost. Hence, there are two ways of expressing the markup amount.

Formula of markup based on cost is:

percent markup based on cost=Markupcost

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