PrepCity is a chain of emergency preparedness stores that stocks the Megalite, a super-powerful portable lamp. PrepCity sells Megalites to its retail customers for $20.48 each. PrepCity buys Megalites from a wholesaler for $13.07 each. Calculate PrepCity's percent markup on cost. (Report your answer as a percent. Report 25.5%, for example, as "25.5". Rounding: tenth of a percent.)
show step by step how you got the answer.
% markup on cost= 56.7%
|
A |
Sales price |
$ 20.48 |
|
B |
Purchase price |
$ 13.07 |
|
C=A-B |
Markup earned |
$ 7.41 |
|
D=C/B x 100 |
Markup percentage |
56.7% |
PrepCity is a chain of emergency preparedness stores that stocks the Megalite, a super-powerful portable lamp....