Ella H.

asked • 11/16/16

A camera costing a shop owner $270 is sold by him for $430. Find the markup rate.

Please answer

1 Expert Answer

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David W. answered • 11/16/16

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Profit = Price - Cost
Profit = $430 - $270 = $160
 
Markup Rate =  ( (Price - Cost) / Cost ) * 100%
Markup Rate =  ( ($430 - $270) / $270 ) * 100%
                   =  ( $160 / $270 )*100%
                   = 0.593 * 100%
                   ≅ 59%
        
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