
Michelle C. answered 05/26/15
Tutor
New to Wyzant
Law Student For Math Tutoring
Assuming $560 is the cost...
Cost * % markup = $ markup
$560 * 0.25 = $140
Alternatively, assuming $560 is the sales price...
Step 1: (1 + % markup) * Cost = Sales price
1.25 * Cost = $560
Cost = $448
Step 2: $ markup = Sales price - Cost
$ markup = $560 - $448 = $112
Cost * % markup = $ markup
$560 * 0.25 = $140
Alternatively, assuming $560 is the sales price...
Step 1: (1 + % markup) * Cost = Sales price
1.25 * Cost = $560
Cost = $448
Step 2: $ markup = Sales price - Cost
$ markup = $560 - $448 = $112