) If an item has a 75% markup on cost, what is its markup on selling price percentage?

Let's assume the cost of the item is C. If there is a 75% markup on cost, then the selling price (S) of the item can be calculated as: S = C + 0.75C Simplifying this equation, we get: S = 1.75C The markup on selling price (MSP) is the difference between the selling price and the cost, expressed as a percentage of the selling price: MSP = (S - C) / S * 100% Substituting the expression we found for S, we get: MSP = (1.75C - C) / 1.75C * 100% Simplifying this equation, we get: MSP = 0.75 / 1.75 * 100% MSP = 42.857...% Therefore, the markup on selling price percentage for an item with a 75% markup on cost is approximately 42.857%.