A sofa sells for $849. The cost of the sofa is $428. What is the markup rate of the sofa?
A) 30%
B) 48%
C) 50%
D) 98%

Name: A sofa sells for $849. The cost of the sofa is $428. What is the markup rate of the sofa? A) 30% B) 48% C) 50% D) 98%
Brand: Quizplus
Rating: 4.9 (32 reviews)

Question

Quizplus · Accepted Answer

The markup rate is calculated by dividing the markup (selling price minus cost price) by the cost price, then multiplying by 100 to get a percentage. Markup = $849 - $428 = $421. Markup rate = ($421 / $428) * 100 = 98%.

A Sofa Sells for $849