Gap sells jeans that cost $21.00 for a selling price of $29.95. The percent of markup based on cost is:
A) 42.62%
B) 46.26%
C) 49.88%
D) 48.9%
E) None of these

Name: Gap sells jeans that cost $21.00 for a selling price of $29.95. The percent of markup based on cost is: A) 42.62% B) 46.26% C) 49.88% D) 48.9% E) None of these
Brand: Quizplus
Rating: 4.9 (39 reviews)

Question

Quizplus · Accepted Answer

The percent markup based on cost is calculated as ((Selling Price - Cost) / Cost) * 100. So, ((29.95 - 21.00) / 21.00) * 100 = 42.62%.

Gap Sells Jeans That Cost $21