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Nakesha’s Sporting Goods is running a sale on golf shoes this week. The sale price is $95.98. The shoes cost Nakesha’s $63.45. What is the markup rate based on cost?

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absor201

Answer:

Markup rate = 0.512 or 51.2%

Step-by-step explanation:

Mark up rate is the increase amount added to the original price.

Sales Price = $95.98

Original Price= $63.45

Gross profit margin = Sales Price - Original cost

                                = $95.98 - $63.45

                                = $ 32.53

Mark up Rate = Gross profit margin/ original price

                                  = 32.53 / 63. 45

                                  = 0.51

converting into percentage by multiplying with 100

Mark up Percentage = 0.512 * 100

                                  = 51.2 %