Find the markup rate for the following store items.
Cost $50 ;markup $12.50
The markup rate can be found using the formula:
Markup rate = (Markup / Cost) x 100%
In this case, the markup is $12.50 and the cost is $50. So, putting values into the formula we get:
Markup rate = (12.50 / 50) x 100%
Markup rate = 0.25 x 100%
Markup rate = 25%
Therefore, the markup rate for the store item is 25%.
Yes, 25% is correct.
To find the markup rate for an item, you need to divide the markup amount by the cost of the item, and then multiply the result by 100 to get the percentage markup rate.
In this case, the cost of the item is $50 and the markup amount is $12.50.
Markup rate formula: (Markup amount / Cost) * 100
So, let's plug in the values:
Markup rate = (12.50 / 50) * 100
Calculating the markup rate:
Markup rate = (0.25) * 100
Markup rate = 25%
Therefore, the markup rate for the given store item is 25%.