Question

Assume markup is based on cost. Find the dollar markup and selling price for the following problem.

Item Cost Markup percent Dollar markup Selling price
Burberry men’s watch $590 20%

Answer 1

Answer and Explanation:

The computation of the dollar markup and the selling price is shown below

The dollar markup is

= $590 × 20%

= $118

And, the selling price

= Cost + dollar markup

= $590 + $118

= $708

hence, the same would be relevant and considered too