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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

At Video Outlet, a PlayStation 4 game is marked up 75% based on selling price. What corresponding percent markup based on cost? Round to the nearest tenth of a percent.

To determine

To calculate: The percent markup based on cost if percent markup based on selling price is 75%.

Explanation

Given Information:

The percent markup based on selling price is 75%.

Formula used:

The percent markup based on Cost can be calculated using the following equation:

Percent markup based on Cost=Percent markup based on selling price100%Percent markup based on selling price or

%MCost=%MSP100%%MSP

Calculation:

Consider the provided data,

The percent markup based on selling price is 75%.

So, %MSP=75%.

The percent markup based on cost is:

%MCost=%MSP100%%MSP

Substitute %MSP=<

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