Asked by Hans Raj Joshi on Sep 23, 2024

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If a product has a cost of $42.67 and a selling price of $63.33 , what is the markup rate? Round your answer to two decimal places.

A) 14.84%
B) 48.42%
C) 32.62%
D) 20.65%
E) 30.65%

Markup Rate

The percentage increase applied to the cost price of goods to calculate the selling price.

Selling Price

The amount of money for which a good or service is offered for sale to consumers.

  • Apply mathematical operations to determine markup, markdown, discount, and unit pricing in financial literacy settings.
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Sharon Penix1 day ago
Final Answer :
B
Explanation :
Markup rate is calculated as (selling price - cost)/cost. Therefore, markup rate = (63.33-42.67)/42.67 = 0.4842 or 48.42% (rounded to two decimal places). The correct answer is B.