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Homework answers / question archive / Complete the following table: 37% Tuem7Am q pia Cost Amount $78 Selling Price $0
Complete the following table:
37% Tuem7Am q pia
Cost Amount $78 Selling Price $0.001 Markup Amount I % Markup Based on Cost I% % Markup Based on Selling Price 38%
Round to two decimal places if necessary
?Computation of the selling price:-
Selling price = Cost + Markup
Selling price = $78 + (38% * Selling price)
62% * Selling price = $78
Selling price = $78 / 62%
= $125.81
Computation of the markup amount:-
Markup amount = 38% * Selling price
= 38% * $125.81
= $47.81
Computation of the % markup based on cost:-
% Markup on cost = Markup amount / Cost
= $47.81 / $78
= 61.29%