Answered: A retailer purchases a can of soup for…

A retailer purchases a can of soup for 24 cents and sellsit for 36 cents. Calculate the markup as a percentage ofcost and as a percentage of selling price.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter3: Your Role As A Consumer

Section: Chapter Questions

Problem 5AA

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A retailer purchases a can of soup for 24 cents and sells
it for 36 cents. Calculate the markup as a percentage of
cost and as a percentage of selling price.

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