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Math Help - mark up word problem

  1. #1
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    mark up word problem

    I don't understand what this question

    Just desserts buys cheesecakes from general bakeries at $33.60 per cheesecake. It then cuts each cheesecake into 16 slices and sells them to customers at $6.50 per slice. Calculate the rate of markup on cost and the rate of markup on selling price.

    I run into trouble when i try to calculate the markup on cost because the formula is MarkUP = Selling price - Cost
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  2. #2
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    Hello, diehardmath4!

    Sorry, I don't understand your difficulty . . .


    Just Desserts buys cheesecakes from general bakeries at $33.60 per cheesecake.
    It then cuts each cheesecake into 16 slices and sells them to customers at $6.50 per slice.
    Calculate the rate of markup on cost and the rate of markup on selling price.

    The cost is: . \frac{\$33.60}{16} \:=\:\$2.10 per slice.

    Each slice is sold for $6.50.

    The markup is: . M \:=\:\$6.50 - 2.10 \:=\:\$4.40 per slice.


    Rate of markup on cost: . M_c \:=\:\frac{4.40}{2.10} \:=\:2.095238095 \;\approx\;209.5\%

    Rate of markup on SP: . M_s \;=\;\frac{4.40}{6.50} \;=\;0.676923077 \;\approx\;67.7\%

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