a lumberyard makes picnic tables for $87.00 and sells them for $127.89. what is the percent markupbon each picnic table based on cost?
(127.89-87)/87 = 0.47 = 47%
127.89-87/87=40.89/87=o.47*100=47%
To find the percent markup on each picnic table based on the cost, you will need to calculate the difference between the selling price and the cost price, and then divide that difference by the cost price. Finally, multiply the result by 100 to get the markup percentage.
Here are the step-by-step calculations:
1. Calculate the markup amount:
Markup = Selling Price - Cost Price
Markup = $127.89 - $87.00
Markup = $40.89
2. Calculate the markup percentage:
Markup Percentage = (Markup / Cost Price) * 100
Markup Percentage = ($40.89 / $87.00) * 100
Markup Percentage ≈ 47.01%
Therefore, the percent markup on each picnic table based on cost is approximately 47.01%.