For ALL of these....use these formulas...
Finding Markup%
Markup=Selling Price-Cost
Markup%= [tex] \frac{Markup}{Cost}*100 [/tex]
1.) Recliner Chair. Cost=$61 Sell Price=$75.99
Markup= $75.99-$61
M=$14.99
Markup%= [tex] \frac{14.99}{61} *100[/tex]
Markup%=24.5% (Markup less than 25%)
2.) Basket Ball. Cost=$23.75 Selling Price=$29.95
Markup= $29.95-$23.75
M=$6.20
Markup%=[tex] \frac{6.20}{23.75} *100[/tex]
Markup%=26.1 (Markup greater than 25%)
3.) Necklace. Cost=$15 Selling Price=$19.25
Markup= $19.25-$15
M=$4.25
Markup%=[tex] \frac{4.25}{15}*100 [/tex]
Markup%=28.3 (Markup greater than 25%)
4.)Notepad. Cost=$1.19 Selling Price=$1.50
Markup=$1.50-$1.19
M=$0.31
Markup%=[tex] \frac{0.31}{1.19}*100 [/tex]
Markup%=26.1 (Markup greater than 25%)
5.)Speakers. Cost=$44.55 Selling Price=$54.99
Markup=$54.99-$44.55
M=$10.44
Markup%=[tex] \frac{10.44}{44.55} *100[/tex]
Markup%=23.4 (Markup less than 25%)
6.) DVD. Cost=$10.80 Selling Price=$12.95
Markup=$12.95-$10.80
M=$2.15
Markup%=[tex] \frac{2.15}{10.80}*100 [/tex]
Markup%=19.9 (Markup less than 25%)
I hope this benefits other people in the future. :D
