Question
A pair of Sneakers cost $112 after it was marked up by 75%. How much
did it cost before the mark-up?
Answer
Divide the gross profit by the cost and multiply by 100 to calculate your percentage markup. In the example, divide $75 by $100 which equals $0.75, and multiply by 100 to give you 75 percent. Your markup on cost price is 75 percent.
Therefore, the answer would be (196)
