Gap sells jeans that cost $21.00 and sell for $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 and sell for $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: 4.7 (42 reviews)

Question

Quizplus · Accepted Answer

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

Gap Sells Jeans That Cost $21