If we know the markup on selling price,we can easily find markup on cost,even if we do not know the dollar amount involved.

Question

Quizplus · Accepted Answer

This is true because the markup on selling price and the markup on cost are related by a simple formula:

Markup on cost = Markup on selling price / (1 + Markup on selling price as a decimal)

So if we know the markup on selling price, we can use this formula to find the markup on cost without needing to know the dollar amount involved.

If We Know the Markup on Selling Price,we Can Easily