Lilly buys tea from England for $4 a box and sells it in “The Tea Party” for $12 a box. Find the percent of markup based on cost.

Given:

Cost price (C.P.) = $4 per box

Selling price (S.P.) = $12 per box

To find:

The percent of markup based on cost.

Solution:

We know that,

On substituting the given values, we get

Therefore, the percent of markup based on cost is 200%.

step-by-step explanation:

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