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10 points! markup and markdown?
Southwest Consulting has the following on their financial statements:
Round your final answer properly to two decimal places.
Markup based on cost %..Markup based on selling price %
198 %...........................____________%
_________________%...........64%
1 Answer
- ?Lv 77 years ago
your question is confusing. Did you leave out a piece of information?
the way I was taught markup/markdown is
old price
minus
new price
all divided by
old price
(old-new)/old
if you have an old price of 100
and a new price of 75
(100-75)/100
25/100
0.25, or 25% markdown
if you have an old price of 34
and a new price of 51
(34-51)/34
-17/34
-0.50 or a 50% markup
you get use to disregarding the +/- signs
since you know if the price is going up or down
otherwise, you just have to plug in numbers to get the results
[which is what I think the case is here]
hope that helps
