Solve the problem and show your solution (round it off into 2 decimal places):
1. The manager of a clothing store buys a jacket for ₱980 and sells the jacket for ₱3,280. Find the markup rate based on cost and based on selling price.
1. The manager of a clothing store buys a jacket for ₱980 and sells the jacket for ₱3,280. Find the markup rate based on cost and based on selling price.
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Answer:
Markup % = 234.69
Step-by-step explanation:
Markup % = (selling price – cost) / cost x 100
Markup % = (3280 - 980)/980 x 100
Markup % = 2300/980 x 100
Markup % = 2.3469 x 100
Markup % = 234.69