Jane Westerlund owns a small retail picture frame store in a local strip mall.She just bought 10 picture frames from a promising woodworker for $36 each.Based on market conditions,she will sell these for $100 each.What is the percentage markup based on the selling price?
A)0 percent
B)36 percent
C)64 percent
D)100 percent
E)156 percent

Question

Quizplus · Accepted Answer

To find the percentage markup based on selling price, we need to first calculate the amount of markup:
Markup = Selling Price - Cost Price
Markup = $100 - $36
Markup = $64
Now, we can find the percentage markup based on selling price:
Percentage Markup = (Markup/Selling Price) x 100%
Percentage Markup = ($64/$100) x 100%
Percentage Markup = 64%
Therefore, the answer is choice C, 64 percent.

Jane Westerlund Owns a Small Retail Picture Frame Store in a Local