Originally Posted by
Crys Good Day,
I am struggling with these three math problems and I am hoping someone can help me out. I am currently taking a self direct course and the book has horrible examples and the teacher doesn't help at all.
the ST problem is:
The rate of markup on the cost of a toaster selling at 54.95 is 45%
A. What is the cost of the toaster to the retailer?
B What is the rate of markup on cost?
ND Problem is:
If the rate of markup on selling price of lettuce in a grocery store is 60%, what is the rate of markup on cost?
3rd problem is:
Workers World bought 250 pairs of rubber boots at $15 per pair. The manager applies a 90% rate of markup on cost when pricing footwear. What is the operating profit per pair if overhead expenses work out on average to be 20% of the selling price?