Answered

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A jeweler purchases a diamond ring for $6,929.00. The selling price is $13,858.00. Find the markup rate.

Sagot :

According to the given data we have the following:

ring cost=$6,929.00

selling price=$13,858.00

In order to calculate the markup rate we would have to calculate the following formula:

markup rate=(selling price- cost)/(cost))*100

markup rate=($13,858.00-$6,929.00)/($6,929.00))

markup rate=100%

The markup rate is 100%

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