Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
A store's markup is 40% of the SELLING price. What is the equivalent markup as a percent of COST?
- 66.67%
- 40%
- 60%
- 28.57%
Answer
A. 66.67%
Solution
Let SP = 100: markup = 40, cost = 60. Markup on cost = 40/60 × 100 = 66.67%.
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