By using a formula, the percent markup based on selling price can be converted to percent markup based on cost.

Question

Quizplus · Accepted Answer

The percent markup based on selling price can be converted to percent markup based on cost by using a formula. This is because both percentages are related to the difference between the cost and the selling price, but they use different bases (selling price vs. cost) for the calculation.

By Using a Formula, the Percent Markup Based on Selling