satwinder1661 satwinder1661
  • 14-04-2022
  • Mathematics
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If the rate of markup on selling price is 40%, what is the rate of markup on cost.

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theweekndswife
theweekndswife theweekndswife
  • 14-04-2022
If your customer sees a ticket price of $18.33 on the item and knows you paid $11.00 and marked it up $7.33, then he calculates $7.33 as 40% of $18.33. Thus your cost of $11.00 is 60% of $18.33.
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