If Jane Westerlund, owner of a picture frame store, raises the average price of a framed picture to $100 and the cost of goods sold is $36, what is the percentage markup on selling price?
A) 36 percent
B) 55 percent
C) 64 percent
D) 100 percent
E) 178 percent

Question

Quizplus · Accepted Answer

The percentage markup on selling price is calculated as: [(Selling Price - Cost) / Selling Price] * 100 = [($100 - $36) / $100] * 100 = 64%.

If Jane Westerlund, Owner of a Picture Frame Store, Raises