Question

given the percent of cost and the cost, find the percent of markup, the markup, and the selling price. markup is based on selling price
51% c $120.00
? % m $?
100% s $?

solve for the missing numbers.

51% c $120.00
□% m $□
100% s $□
(round to the nearest cent, if necessary.)

Explanation:

Step1: Find the percent of markup

The percent of cost (C) is 51%, and the percent of selling price (S) is 100%. The percent of markup (M) is $100\% - 51\% = 49\%$.

Step2: Find the selling price

Let the selling price be $S$. We know that the cost $C = 120$ and $C$ is 51% of $S$. So we can set up the equation:
$$0.51S = 120$$
Solving for $S$:
$$S=\frac{120}{0.51}\approx235.29$$

Step3: Find the markup

The markup $M$ is the selling price minus the cost:
$$M = S - C = 235.29 - 120 = 115.29$$

Answer:

The percent of markup is $49\%$, the markup is $\$115.29$, and the selling price is $\$235.29$. So filling in the blanks: $49\%$ M $\$115.29$, $100\%$ S $\$235.29$.