Question

A store bought a rabbit for $40.19 and sold it for $111.01. What was the markup percentage? Round your answer to the nearest tenth.

Answer 1

we know that

Markup is the difference between a product's selling price and cost as a percentage of the cost

so

In this problem

$40.19 -------> represent tyhe 100%

the difference is -------> 111.01-40.19=$70.82

Applying proportion

Find the percentage

100%/$40.19=x/70.82

x=70.82(100%/$40.19)

x=176.21%

the answer is 176.21%