Problema Solution
Mila wants to buy two pairs A-Line skater skirts for her best friends. In new york the tax rate is 8.875 % on all items. The when she bought it, it each skirt was on sale for $20.00. What is the markup rate? The original price is 48.00 for both altogether.
Answer provided by our tutors
Sale price = $20.00*1.008875
Cost = $48.00*1.008875
Markup = Sale price - Cost
Markup = (48 - 20)*1.008875
Markup = $28*1.008875
Markup % = (Markup/Cost)*100
Markup % = [28/48]*100
Markup % = 58.33%