If a haberdasher purchases a tie for $12 and plans to sell it for $18,the percentage of retail price markup would be:
A)33%.
B)50%.
C)175%.
D)100%.

Question

Quizplus · Accepted Answer

The percentage of retail price markup is calculated by dividing the markup amount by the retail price and multiplying by 100. In this case, the markup amount is $18 - $12 = $6, and the retail price is $18. Therefore, the percentage of retail price markup is $6 / $18 * 100 = 33.33%, which is closest to 33%.

If a Haberdasher Purchases a Tie for $12 and Plans