Question

1. The cost for an item is $275, while the markup on cost is 70%. Fill in the blanks.

____________	C	$100
70%	M	____________
____________	S	____________

2. The markup for an item is $96, while the markup on selling price is 47%. Fill in the blanks.

____________	C	____________
47%	M	$96
____________	S	____________

Answer 1

Solution to the above question:-

a. The cost for an item is $275, while the markup on cost is 70%.

Particulars	Workings	Amount($)
Cost		275
Mark up on cost		70%
Sales	275+(70%*275)	467.5

So if Cost=$100, then

Particulars	Workings	Amount($)
Cost		100
Mark up on cost		70%
Sales	100+(70%*100)	170 (answer)

a. The markup for an item is $96, while the markup on selling price is 47%

Particulars	Workings	Amount($)
Mark up		96.00
Markup on Sales		47%
Sales	96/47%	204.26(answer)
Cost	204.26 (-)96	108.26(answer)