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Home Q & A Board Science-Related Homework Help Mathematics
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chief333 chief333
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4 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
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austsieraustsier
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4 months ago Edited: 3 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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3 months ago
Help! The answer is missing an explanation...
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Educator
3 months ago
Quote from: Anonymous (3 months ago)
Help! The answer is missing an explanation...

Added the solution!
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