Nakesha’s Sporting Goods is running a sale on golf shoes this week. The sale price is $95.98. The shoes cost Nakesha’s $63.45. What is the markup rate based on cost?

Answer:Markup rate = 0.512 or 51.2%Step-by-step explanation:Mark up rate is the increase amount added to the original price.Sales Price = $95.98Original Price= $63.45Gross profit margin = Sales Price - Original cost                                 = $95.98 - $63.45                                 = $ 32.53Mark up Rate = Gross profit margin/ original price                                   = 32.53 / 63. 45                                   = 0.51converting into percentage by multiplying with 100Mark up Percentage = 0.512 * 100                                   = 51.2 %