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Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.ItemCostTextbook $31.11Need Help?Amount ofMarkup (in $)$ 21.39Read ItSelling Price$52.50PercentMarkupBased onSelling Price* %

Calculate the missing information Round dollars to the nearest cent and percents to the nearest tenth of a percentItemCostTextbook 3111Need HelpAmount ofMarkup class=

Respuesta :

Given: The selling price is $52.50 and the cost price is $31.11.

To find: Percent Markup based on selling price.

Explanation:

The percentage markup based on selling price will be:

[tex]M=\frac{S.P.-C.P.}{S.P.}\times100[/tex]

Plug the value S.P.= 52.20 and C.P.=31.11 in the above formula to get:

[tex]\begin{gathered} M=\frac{52.50-31.11}{52.50}\times100 \\ =\frac{21.39}{52.50}\times100 \\ =40.98\% \end{gathered}[/tex]

Rounding it to the nearest tenth percent we get 41.0%

Final Answer: The percent markup is 41%.

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