Miday Quong is buying bagels for her coworkers. She buys a dozen bagels priced at $4.42 a dozen. The bakery’s cost for making the bagels is $2.25 per dozen. What is the markup rate on a dozen bagels?
the markup is 4.42-2.25 = 2.17
The markup rate is 2.17/2.25 = 0.96 = 96%
To find the markup rate on a dozen bagels, we need to calculate the markup amount and then divide it by the cost price.
The cost price for a dozen bagels is $2.25.
The selling price for a dozen bagels is $4.42.
The markup amount is the difference between the selling price and the cost price.
markup amount = selling price - cost price
markup amount = $4.42 - $2.25
Let's calculate the markup amount:
markup amount = $2.17
Now, to find the markup rate, we divide the markup amount by the cost price and multiply by 100.
markup rate = (markup amount / cost price) * 100
Let's calculate the markup rate:
markup rate = ($2.17 / $2.25) * 100
markup rate = 96.4%
Therefore, the markup rate on a dozen bagels is approximately 96.4%.
To find the markup rate on a dozen bagels, we need to calculate the difference between the selling price and the cost price, and then divide it by the cost price.
The cost price of a dozen bagels is $2.25.
The selling price of a dozen bagels is $4.42.
Markup = Selling Price - Cost Price
Markup = $4.42 - $2.25 = $2.17
Now, we can calculate the markup rate by dividing the markup by the cost price and then multiplying it by 100 to express it as a percentage.
Markup Rate = (Markup / Cost Price) x 100
Markup Rate = ($2.17 / $2.25) x 100 = 96.4%
Therefore, the markup rate on a dozen bagels is approximately 96.4%.