If the markup on a flourescent ight fixture is \( 120 \% \) based on cost, what is corresponding percent markup based on selling price?

To determine the corresponding percent markup based on the selling price when the markup on cost is \( 120\% \), follow these steps: 1. **Define the Variables:** - Let \( C \) be the **cost** of the fluorescent light fixture. - Let \( S \) be the **selling price**. 2. **Markup Based on Cost:** \[ \text{Markup on Cost} = \frac{S - C}{C} \times 100\% = 120\% \] This implies: \[ \frac{S - C}{C} = 1.20 \quad \Rightarrow \quad S = 2.20C \] 3. **Markup Based on Selling Price:** \[ \text{Markup on Selling Price} = \frac{S - C}{S} \times 100\% \] Substitute \( S = 2.20C \): \[ \frac{2.20C - C}{2.20C} = \frac{1.20C}{2.20C} = \frac{1.20}{2.20} = \frac{12}{22} = \frac{6}{11} \approx 0.5454 \] Convert to percentage: \[ 0.5454 \times 100\% \approx 54.55\% \] **Final Answer:** A markup of approximately 54.55 % based on the selling price.