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Calculate the rate of markup on cost

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Reference no: EM132601965

Question 1: If Lionel purchased a phone for $213 and sells it for $274.

a. Calculate the rate of markup on cost. (Round to two decimal places)

b. Calculate the rate of markup on selling price. (Round to two decimal places)

Question 2: If the cost of a product is $271.75 and it has a 20.00% rate of markup on the selling price, calculate the selling price of the product.

Reference no: EM132601965

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