Find the markup and the selling price of the following item. Round answers to the nearest cent. A chemistry set costing $38.50, marked up 32% on cost. Markup = ? Selling price = ?
In order to compute the markup, compute the percentage like this: [tex]38.50\times0. 32=12,32[/tex] The markup is then $12,32. The selling price is the sum of the cost and the markup: [tex]38.50+12,32=50,82[/tex]
