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13 November, 13:13

Nakesha's Sporting Goods is running a sale on golf shoes this week. The sale price is $95.98. The shoes cost Nakesha's $63.45. What is the markup rate based on cost?

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  1. 13 November, 17:05
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    Markup rate = 0.512 or 51.2%

    Step-by-step explanation:

    Mark up rate is the increase amount added to the original price.

    Sales Price = $95.98

    Original Price = $63.45

    Gross profit margin = Sales Price - Original cost

    = $95.98 - $63.45

    = $ 32.53

    Mark up Rate = Gross profit margin / original price

    = 32.53 / 63. 45

    = 0.51

    converting into percentage by multiplying with 100

    Mark up Percentage = 0.512 * 100

    = 51.2 %
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