Find the markup on a delivery van that sells for $36,002.98 but costs $31,399.99.
any help is appreciated!
you know, yz... butting in to say you can't help is not much help.
The markup is the sales amount over the cost --
36,002.98 - 31,399.99 = 4,602.99
The percent markup is thus 4602.99/31399.99 = 14.66% based on cost
or 12.79% based on selling price
C + r*C = $36,002.98.
31,399.99 + r*31,399.99 = 36,002.98,
31,399.99r = 4602.99,
r = 0.147 = 14.7% markup.
To find the markup on a delivery van, you need to subtract the cost from the selling price.
Markup = Selling Price - Cost
In this case, the selling price is $36,002.98 and the cost is $31,399.99.
Markup = $36,002.98 - $31,399.99
Now you can calculate the markup:
Markup = $4,602.99
Therefore, the markup on the delivery van is $4,602.99.