Kohl's pays $16.50 for a six-ounce bottle of cologne and sells it for $25.95. Its markup as a percentage of cost is approximately ____% for this product.
A) 64
B) 36
C) 18
D) 57
E) 45

Question

Quizplus · Accepted Answer

To find the markup as a percentage of cost, we need to first find the markup. Markup = selling price - cost price.

Markup = $25.95 - $16.50 = $9.45

Now, we can find the markup percentage by using the formula:

Markup percentage = (Markup / Cost price) x 100

Markup percentage = ($9.45 / $16.50) x 100

Markup percentage = 0.5727 x 100

Markup percentage = 57.27%

So, the answer is D, approximately 57%.

Kohl's Pays $16