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Hillier Hillier
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Posts: 550
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6 years ago
Kalotyre sells Bridgestone tires at $141.67 each. They purchase the tires from the factory for $103.11 each. Overhead expenses are 20% of the selling price. Determine the rate of markup on the selling price and the cost price?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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Replies
wrote...
6 years ago
Cost = $103.11
Markup = $141.67 - $103.11 = $38.56
Rate of markup on selling price =   × 100 = 27.22%
Rate of markup on cost price =   × 100 = 37.4%
Hillier Author
wrote...
6 years ago
Correct, thank you
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