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Earn +20 ptsQ: What is the purpose of a markup from the wholesale price?
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A toy store's markup rate is 28 percent of the wholesale price What is the retail price of a toy that has a wholesale price of 8?
simply multiply the wholesale price by the percentage markup (in this case 28%) to get the answer, for example: 8 x 0.28= 2.24 then add the answer to the original price 8 + 2.24= 10.24
What is the percent markup on a pair of shoes selling for 120.00 that had a wholesale cost of 80.00?
50% markup.
How do pricing percentage markups work For instance does 100 percent markup double the price Or would that be a 200 percent markup?
100 percent markup will double the price. 200 percent markup would triple the price. (For markup read increase.)
A tradesman allows a discount of 15 percent on the written price how much above the cost price must he mark his goods to get a profit of 19 percent?
p=wholesale price, m=markup p*m*(1-.15)=p*1.19 m*.85=1.19 m=1.19/.85=1.40 His markup must be at least 40%.
What is the correct formula when markup is based on selling price?
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.
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