With a markup percentage of 46.7 percent,a $15 CD must have a markup of $7.

Question

Quizplus · Accepted Answer

To determine if this is true or false, we can use the formula:

Markup = Selling Price - Cost Price

We know the selling price of the CD is $15, and we want to find the cost price. We can rearrange the formula:

Cost Price = Selling Price - Markup

Cost Price = $15 - $7

Cost Price = $8

Therefore, the cost price of the CD is $8. To check if the markup percentage is 46.7%, we can use the formula:

Markup Percentage = Markup / Cost Price x 100%

Markup Percentage = $7 / $8 x 100%

Markup Percentage = 87.5%

This is not equal to 46.7%, so the statement is false. However, the statement that the CD must have a markup of $7 with a selling price of $15 and no other information is true.

With a Markup Percentage of 46