If the markup based on selling price is \( 50 \% \), what is the markup based on cost price? select one:

To find the markup based on cost price when the markup based on selling price is \( 50\% \), you can use the formula: \[ \text{Markup (based on cost)} = \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \times 100 \] With a \( 50\% \) markup on selling price, the selling price is \( 1.5 \times \) cost price. Thus, the markup based on cost price would be: \[ \frac{1.5C - C}{C} \times 100 = 50\% \] This translates to a markup based on cost price of \( 33.33\% \). So, when you see that \( 50\% \) markup on selling price, remember the nifty conversion trick! Have you ever thought about how retail giants set prices? When they advertise a sale for a "50% off" deal, it might just be a clever way to increase their markup without scaring off buyers! Understanding these calculations can help you feel empowered while shopping or setting prices for your own business.