To find Markup when Principal Amount, Markup Rate and Time are Known (WP No.5 Markup)

The price of a bicycle including markup is Rs. 5610. If the markup rate is 5% per annum, find the amount of markup for 146 days.

Given:

The price of a bicycle including markup is the Principal Amount (P) = Rs. 5,610
Markup rate (R) = 5% per annum

Time period (T) = 146 days = `{\frac{146}{365}}`years = 0.4 years

To Find:

Markup =?







Solution:

Using the formula,

Markup =`\frac{5\times Rs. 5610\times0.4}{100}`

Markup =Rs. 112.2

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