An item has a 41.1% markup based on selling price. What is the equivalent markup percent based on the cost?
A) 69.8%
B) 30.2%
C) 29.1%
D) 70.9%

Name: An item has a 41.1% markup based on selling price. What is the equivalent markup percent based on the cost? A) 69.8% B) 30.2% C) 29.1% D) 70.9%
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Markup based on selling price = 41.1%, so if the selling price is considered 100%, the cost is 100% - 41.1% = 58.9%. The markup based on cost is then (41.1 / 58.9) * 100% = 69.8%.

An Item Has a 41