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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

When markup is based on selling price, the________ price is the base and represents _______ percent. (8-6)

To determine

To fill: The blank space provided in the statement, “When markup is based on selling price, the               price is the base and represents               percent”.

Explanation

If markup is 25% of the selling price, then the cost must be 75% of the selling price. This implies,

Selling Price=Cost

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