The cost of a package of pencils is $0.75, and the markup amount is $0.30. What is the markup rate of the pencils?
A) 30%
B) 35%
C) 40%
D) 45%

Question

Quizplus · Accepted Answer

Markup rate is defined as the amount of markup divided by the cost. In this case, the markup amount is $0.30 and the cost is $0.75. Therefore, the markup rate is (0.30/0.75) * 100% = 40%. Therefore, the answer is option C.

The Cost of a Package of Pencils Is $0