Solve the Problem

question 55

Multiple Choice

Solve the problem. Round rates to the nearest tenth of a percent and dollar amounts to the nearest dollar when necessary.
-A store sells an item for $550 each. If this is a 39.8% markup on the selling price, find the equivalent markup percent on cost.

• A)550%
• B)28.5%
• C)66.1%
• D)47.3%

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Definitions:

Coercion

The practice of persuading someone to do something by using force or threats.

Rewards

Benefits or recognitions given in response to an individual's or group's behavior or performance.

Department of Justice

The national agency responsible for enforcing the law, administering justice, and upholding legal rights in a particular country.

Parole

The conditional release of a prisoner before the completion of their sentence, based on the assumption of good behavior and adherence to certain conditions.