For the following items, calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.
Percent  Percent  
Markup  Markup  
Amount of  Based on  Based on  
Item  Cost  Markup Selling Price  Cost  Selling Price  
7.  Dollhouse  $71.25  $94.74  $165.99 


To calculate: The amount of Markup and percent Markup based on selling price and cost, for given,
Given Information:
The cost of the items is
Formula used:
The markup can be calculated using the following equation:
The percent markup based on selling price is computed as:
The percent markup based on cost is computed as:
Calculation:
The amount of Markup is,
Substitute
Therefore, the amount of markup on dollhouse is
The formula of percent markup based on selling price is,
Substitute the values of
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