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| Math Central | Quandaries & Queries |
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Question from ezile, a student: if the gross profit for the previous year was R125000 and for the new year its R195000 the mark up achieved was 95%....whats the new mark up |
Hi,
The gross income is the cost plus the gross profit. The markup is a percentage of the cost. In the previous year you had a profit of R125000 and this was from a markup of 95%. If the cost was C rand then R125000 is 95 % of C, or $0.95 \times C = 125000.$ What is C?
The gross profit for the current year is R195000. If the cost is the same as in the previous year what percent is R195000 of C?
Penny
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