The percent markup on a pickup truck is known to be 252% based on cost to the seller. if the seller paid $15,800 for one, then what would be the corresponding percent markup based on selling price? (round to the nearest tenth of a percent)

The markup rate under selling price will be 71.59%

Explanation:

Using markup base on cost the formula is:

sales price = cost x markup percentage + cost

sales price =   COST X 252%  + COST  = 2.52 COST + COST = 3.52 COST

SALES PRICE = 3.52 x COST

Knowing that price is 15,800 the cost is 15,800/3.52 = 4,488.64

Using selling price the formula is:

cost / ( 1 - markup) = Price

Replacing Price with the ammount given in the cost-base markup we got:

4,488.64/(1-markup) = 15,800

now we solve for the markup

1 - 4,488.64/15,800 = markup = 0.7159 = 71.59%

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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