   Chapter 8, Problem 5CR ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

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

# To calculate cost, we divide the ________ price by 100% plus the percent markup based on cost. (8-4)

To determine

To fill: The blank space provided in the statement, “To calculate cost, we divide the               price by 100% plus the percent markup based on cost”.

Explanation

The formula to calculate the percent markup based on cost is:

Cost=Selling Price100%+%Markup

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