The selling price would be 17.25 if it cost 15 and the percent of markup is 15.
(Selling Price - Cost price)/Selling Price * 100
Multiply by 1.75
The correct formula when markup is based on the selling price is selling price is equal to the markup plus the cost. This enables traders make profits.
100 percent markup will double the price. 200 percent markup would triple the price. (For markup read increase.)
Saud bought a TV set for Rs.12000. To make a desired profit he needs a 50% markup on selling price. What is his Rs. Markup?
Selling price less profit equals cost price. The markup is the profit plus cost price.