To calculate the percent of a markup based on the cost (also known as the rate), you would use the formula
$$\frac { \text { Markup (portion) } } { \text { Cost (base) } }$$

Question

To calculate the percent of a markup based on the cost (also known as the rate), you would use the formula
​$$\frac { \text { Markup (portion) } } { \text { Cost (base) } }$$ ​

Quizplus · Accepted Answer

This formula correctly calculates the percent of a markup based on the cost, where the markup (portion) is divided by the cost (base) to find the rate or percentage of the markup.

To Calculate the Percent of a Markup Based on the Cost