Nancy Martinez manages all the magazines and paperback books at a local grocery store. She prices paperbacks to sell at $7.99. The cost to the store is $5.29. What is the markup rate on a paperback book, base on its cost?

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Answer 1 · 2018-05-04T18:58:17

The mark-up rate is ~150%.

#$5.29# is the cost for the store to buy the book
#$7.99# is the cost of the book in the store

#7.99/5.29# = 1.51039697543, or ~150% markup