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Question:
What is the markup rate for a drug that costs $19.99 and retails for $25.99?
A
30%
explanation
Answer = 30%. Markup rate is the markup dollars divided by the cost times 100. Calculate the markup: Retail price ($25.99) - Cost ($19.99) =$6.00. Divide the markup dollars ($6.00) by the cost ($19.99) and multiply by 100: ($6.00/$19.99) X 100 = 30%.
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2 years ago
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2 years ago
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