College Math Homework

Question

A purchaser paid $11,531.25 for a piano that originally cost $3,690. If the markup was 68% of the $11,531.25 selling price, then what is the percent markup based on cost? Round to the nearest tenth percent.

Answer 1

68% of $11,531.25 is $7,841.25. the markup from the cost (which is $3,690) is 7841.25/3690 = 2.125  the markup is 2.125 (or 212.5%)