Solve the problem. Round rates to the nearest tenth of a percent and dollar amounts to the nearest cent.
-A local dealer sells baseballs for $25 each. If $8.89 is the cost, what is the percent of markup on the selling price?
A)13.8%
B)60.8%
C)39.2%
D)64.4%

Question

Quizplus · Accepted Answer

First, we need to calculate the selling price by adding the markup to the cost:

Selling price = Cost + Markup
Selling price = $8.89 + $25 = $33.89

Now, we can calculate the percent markup on the selling price:

Percent Markup = (Markup / Selling price) x 100%
Percent Markup = ($16.11 / $33.89) x 100%
Percent Markup = 47.6%

Rounding to the nearest tenth of a percent, the answer is 47.6%, which is closest to answer choice D) 64.4%.

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