The markup on cost price is 22.55%
What is the formula for markup on selling price?
The selling price itself is made of the cost price and markup, which means that markup on selling price is the selling price minus the cost price
selling price=cost price+ markup
markup=selling price-cost price
In this case, markup on selling price means profit as a percentage of selling price , which means that the selling price is 100%(or 1)
100%=cost price+18.4%
cost price=100%-18.4%
cost price=81.60%
Finally, the markup on cost price is 18.4% divided the percentage of cost price
markup on cost price=18.4%/81.60%
markup on cost price=22.55%
Find out more about markup on:https://brainly.com/question/1153322
#SPJ1
