2. Mike buys a bike for P12,000 and sells it for P18,000. Find the percent of markup based on cost. Find the Rate of Markup.
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2. Mike buys a bike for P12,000 and sells it for P18,000. Find the percent of markup based on cost. Find the Rate of Markup.
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Answer:
(P18,000 - P12,000) /P12,000
P6,000 / P12,000
0.50 × 100
= 50%