If a wholesaler takes a 33.3 percent markup on selling price, what is the approximate markup on cost?
A) 80%
B) 50%
C) 20%
D) 100%
E) 33%

Question

Quizplus · Accepted Answer

If the markup on selling price is 33.3%, it means the cost is 66.7% of the selling price. The markup on cost is calculated as (Selling Price - Cost) / Cost. If the selling price is 100, the cost is 66.7, so the markup on cost is (100 - 66.7) / 66.7 = 50%.

If a Wholesaler Takes a 33