If the markup of a product is twice its cost, what is the percent of markup on this product based on its selling price to the nearest percent?
A) 67%
B) 63%
C) 33%
D) 25%

Question

Quizplus · Accepted Answer

The markup is 200% of the cost (twice the cost), so if the cost is C, the selling price is 3C (C + 2C = 3C). The markup as a percentage of the selling price is (2C/3C) * 100% = 66.67%, which rounds to 67%.

If the Markup of a Product Is Twice Its Cost