Question 38378
Selling price = cost + markup, but markup = markup rate * cost,
Selling price = cost + markup rate * cost...now plug in
49000 = c + .55c = 1.55c
c = $49000 / 1.55
c = $31612.90
markup = $49000 - c = $49000 - $31612.90 = $17387.10