It costs \( \$ 1540 \) to manufacture a violin. If the violin sells for \( \$ 1905 \), what is the percent markup based on selling price? (Round to the nearest whole percent) select one: O a. \( 19 \% \) O b. \( 29 \% \) o. \( 38 \% \) o d. \( 77 \% \)

To find the percent markup based on the selling price, you can use the formula: \[ \text{Percent Markup} = \left( \frac{\text{Selling Price} - \text{Cost}}{\text{Selling Price}} \right) \times 100 \] Plugging in the values, we have: \[ \text{Percent Markup} = \left( \frac{1905 - 1540}{1905} \right) \times 100 \approx \left( \frac{365}{1905} \right) \times 100 \approx 19.2\% \] Rounding to the nearest whole percent gives you a markup of about \( 19\% \). So, the correct answer is \( \text{a. } 19\% \). Engaging Tidbit: The art of violin making dates back centuries, with origins that trace back to the late 16th century in Italy, thanks to master luthiers like Stradivari and Guarneri. Today, each violin carries a unique history, often symbolizing a blend of craftsmanship and musical passion! Real-world Application: Understanding markup percentage is crucial for musicians or sellers in the music industry. The profit margin can determine pricing strategies and inventory decisions, ultimately influencing how accessible quality instruments are to aspiring artists and seasoned pros alike.