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24 March, 11:52

What is the rate of markup based on cost if a desk has an 84% markup based on the selling price?

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  1. 24 March, 12:04
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    525%

    Step-by-step explanation:

    The relationship between the variables is ...

    cost + markup = selling price

    cost + 84% (selling price) = selling price

    cost = selling price (100% - 84%) = 16% (selling price)

    Then the markup based on cost is ...

    markup/cost = (84% (selling price)) / (16% (selling price)) = 84/16

    markup/cost = 5.25 = 525%
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