Essay
Calculate answers for the following scenarios if retailer markups are based on their selling price:
a)A retailer sells a set of measuring cups for $2.50 after adding $.50 to the original cost. What is the markup percentage?
b)The cost of a food blender for the retailer is $40 and the retailer applies a markup of $60. What is the retail markup percentage?
c)A retailer marks up all products by 20 percent. If a set of glasses costs the retailer $10, what will the final selling price be?
d)A retailer marks up all products by 75 percent. If the selling price of a set of plastic bowls is $4, what was the cost to the retailer?
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