Answer:
Step-by-step explanation:
A. The dollar amout of the markup is found by multiplying the markup rate by the dollar cost. "24% of cost" means "24% × cost". Of course, you know that 24% = 24/100 = 0.24.
... markup = 0.24 × cost = 0.24 × $159 = $38.16
B. The markup is the amount added to the cost to get the selling price. It is the amount by which the cost is marked up.
... selling price = cost + markup = $159.00 +38.16 = $197.16
