8. the selling price of an item is $650 marked up from the wholesale cost of $450. find the percent markup…

8. the selling price of an item is $650 marked up from the wholesale cost of $450. find the percent markup from wholesale cost to selling price. selling price - markup = wholesale cost $\\square - $\\square = $\\square$. markup = percent markup × wholesale cost $\\square = \\square×\\square$. the percent markup is about $\\square$.

8. the selling price of an item is $650 marked up from the wholesale cost of $450. find the percent markup from wholesale cost to selling price. selling price - markup = wholesale cost $\\square - $\\square = $\\square$. markup = percent markup × wholesale cost $\\square = \\square×\\square$. the percent markup is about $\\square$.

Answer

Explanation:

Step1: Calculate the markup amount

Markup = Selling price - Wholesale cost. Given selling price = $650 and wholesale cost = $450. So, $650 - 450=200$.

Step2: Set up the equation for percent - markup

Let the percent - markup be $p$. We know that Markup = Percent markup×Wholesale cost. So, $200 = p\times450$.

Step3: Solve for the percent - markup

$p=\frac{200}{450}\approx0.4444$. To convert to a percentage, multiply by 100. So, $p = 0.4444\times100 = 44.44%$.

Answer:

The percent markup is about $44.4%$