rate of mark up based on cost

Question

Costs 1430sold for 1979 what is rate of mark up based on cosy

Answer 1

First, we need to define our terms.

 

Mark up = Retail - Cost ÷ Retail

 

Mark on = Retail - Cost ÷ Cost

 

Your request includes both ideas, so let's calculate both types.

 

1. Mark up = $1979 - 1430 ÷ 1979 x 100% = 28.2%

 

2. Mark on = $1979 - 1430 ÷ 1430 x 100% = 38.4%

Answer 2

cost $1430

sold for $1979

1979-1430=549

549/1430=0.383916=38.3916 % markup