Assume a Product Costs $3 and a Retailer Sells It

Multiple Choice

Assume a product costs $3 and a retailer sells it for $6. What is the percentage markup on selling price and cost?

A) Markup on selling price = 33%; Markup on cost = 50%
B) Markup on selling price = 40%; Markup on cost = 66.6%
C) Markup on selling price = 50%; Markup on cost = 100%
D) Markup on selling price = 100%; Markup on cost = 100%
E) Markup on selling price = 120%; Markup on cost = 150%