Ales paul tradition plus® guitar is $1,659 at cost and $2,259 at retail price. what is the markup rate on the guitar?

The mark up rate is the percentage that the retailer added to the cost to set the selling price.

Here the amount added to the cost was: $2,259 - $1,659 = $ 600.

The percentage is calculated dividing the amount added to the cost by the same cost and multiplying the result times 100.

($600 / $1,659 ) * 100 = 36.17%

36.17%

Is this from a