An item has a 8.2% markup based on selling price. What is the equivalent markup percent based on the cost?
A) 92.4%
B) 7.6%
C) 8.9%
D) 91.1%

Name: An item has a 8.2% markup based on selling price. What is the equivalent markup percent based on the cost? A) 92.4% B) 7.6% C) 8.9% D) 91.1%
Brand: Quizplus
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Question

Quizplus · Accepted Answer

To find the markup based on cost, use the formula: Markup on cost = (Markup on selling price) / (1 - Markup on selling price). Here, 8.2% / (1 - 0.082) = 8.9%.

An Item Has a 8