Math Problem Statement
The cost to a distributor for a product is $26. The distributor sells the product for $70 to the customers. 1. What is the amount of the markup? Markup = $ 2. What is the markup based on the cost (expressed as a percentage)? Round the answer to two decimal places. Markup based on Cost = %
Solution
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Math Problem Analysis
Mathematical Concepts
Markup
Percentage Calculations
Formulas
Markup Amount = Selling Price - Cost Price
Markup Percentage = (Markup Amount / Cost Price) * 100
Theorems
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Suitable Grade Level
Grades 9-12
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