SOLUTION: The student council is selling cookies. They buy the cookies from the store for $0.55 cents each. They sell the cookies for $1 each. What is the percent of markup?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: The student council is selling cookies. They buy the cookies from the store for $0.55 cents each. They sell the cookies for $1 each. What is the percent of markup?      Log On


   

Question 1023791: The student council is selling cookies. They buy the cookies from the store for $0.55 cents each. They sell the cookies for $1 each. What is the percent of markup?
Found 2 solutions by Alan3354, robertb:
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
64 -1/3 power + 64 -1/6 power
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= 1/4 + 1/2
= 3/4

Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
The markup is M = 0.45.
The markup rate on cost is m%5Bc%5D+=+M%2FC+=+0.45%2F0.55 = 0.818181..., or 81.81%.
The markup rate on retail price is m%5Br%5D+=+M%2FR+=+0.45%2F1 = 0.45, or 45%.