[ \textProfit Percentage (on SP) = \frac\textProfit\textSelling Price \times 100 ] [ = \frac60400 \times 100 = 15% ] ✅ 15% based on SP
Example: If a company buys sneakers for $60 and sells them for $120, the markup is $60, representing a 100% markup on cost but a 50% profit margin. 3. Linear Equations and Cost Analysis business mathematics chapter 1 questions and answers