If a product has a cost of $738 and a markup rate of $\$ 32 \frac { 1 } { 3 } \%$ , what is the markup?
A) $\$ 249.07$
B) $\$ 238.62$
C) $\$ 236.16$
D) $\$ 263.18$
E) $\$ 246.00$

Question

Quizplus · Accepted Answer

First, we need to convert the markup rate from a mixed number to a decimal:
$$\$32 \frac{1}{3}\%=\frac{32\frac{1}{3}}{100}=\frac{97}{300}$$
Next, we can calculate the markup using the formula:
markup = cost $	imes$ markup rate
markup = $738	imes\frac{97}{300} \approx \$238.62$
Therefore, the answer is B.

If a Product Has a Cost of $738 and a Markup