Answer:
The markup percent was 45%.
Step-by-step explanation:
You can use the following formula to calculate the mark up percentage:
Markup percentage= ((Selling price – unit cost) / unit cost)*100%
Selling price= $217.50
Unit cost= $150
Now, you can replace the values on the formula:
Markup percentage= ((217.50-150)/150)*100
Markup percentage=(67.5/150)*100
Markup percentage=0.45*100
Markup percentage=45%
According to this, the answer is that the markup percent was 45%.
