Markup question?

Question

1. Assume a firm pays $10.00 for an item that it resells for $12.00. The markup percentage on selling price is _______ and the markup percentage on cost is __________

a.17%; 17%

b. 20%; 20%

c. 20%; 17%

d.17%; 20%

Answer 1

d.17%; 20%

2/12 x 100 = 17%

2/10 x 100 = 20%