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S% = 100% + M% C = S ÷ S% M = S – C — Lenox sells a serving platter for 359 The markup rate is 110 of the cost Find the cost and markup for the platter SOLUTION S 100 M C S S M S

General StudiesGeneralWorked Solution

Lenox sells a serving platter for $359. The markup rate is 110% of the cost. Find the cost and markup for the platter.

SOLUTION

S% = 100% + M% C = S ÷ S% M = S – C

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