A Retailer Buys T-Shirts for $12 $6 \frac{2}{3} \%$ B) 500%
C)

Multiple Choice

A retailer buys T-shirts for $12.50. They are marked up to cover overhead of 40% of cost and a profit of 10% of cost. What is the rate of markdown if the T-shirts are sold at the break-even price?

A) $6 \frac{2}{3} \%$
B) 50.0%
C) $26 \frac{2}{3} \%$
D) 23.3%
E) $33 \frac{1}{3} \%$