Markup question

Question

ProSkate sells equipment for $75. They buy the equipment at wholesale for $45.

a. What is the dollar amount of the markup?

b. What is the rate of markup on cost?

c. What is the Sale price if the equipment is marked down by 30% off the selling price?

Answer 1

$45 to $75 is a $30 markup

$30/$45 = 2/3 = 67% markup

the sales price after a 30% markdown is 75 -.3(75) = .7(75)=$56.25