If patio furniture costs $500.00 and sells for $550.00, the percent markup based on selling price is 10%.

Name: If patio furniture costs $500.00 and sells for $550.00, the percent markup based on selling price is 10%.
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

Quizplus · Accepted Answer

The percent markup based on selling price is calculated as (Selling Price - Cost Price) / Selling Price. So, it is ($550 - $500) / $550 = $50 / $550 = 0.0909 or 9.09%.

If Patio Furniture Costs $500