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chief333 chief333
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6 months ago
If a grocery store's rate of markup on selling price of tomatoes is 55%, what is the rate of markup on cost of the tomatoes? Round to the nearest 0.01%
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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austsieraustsier
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6 months ago Edited: 5 months ago, bio_man
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122.22%




Let the selling price be 100, so profit will be 55 and cost will be 45.

So now Profit % on cost will be = Profit / Cost * 100

Profit % = 55 / 45 * 100 ==> 122.22%
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Anonymous
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5 months ago
Help! The answer is missing an explanation...
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5 months ago
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