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larisa86 [58]
2 years ago
11

French Co. marks up its goods 45% on cost. What is French's equivalent markup on selling price? Round to the nearest hundredth p

ercent.
Mathematics
1 answer:
Fiesta28 [93]2 years ago
7 0
<span>Let
CP ------> cost price
SP ------> Selling price

we know that
SP= CP + 0.45CP
Mark up = 0.45CP
Ratio of Mark up to Selling price------->  0.45CP/(CP + 0.45CP) 
= 0.45/(1+0.45)-------> </span><span>0.45/1.45=0.3103
</span><span>0.3103 multiplied by 100 = 31.03%
</span>
the answer is 
31.03%

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