Answer:
Retail price = $5.20
Percentage of mark up price = 30%
Step-by-step explanation:
Company sells $4.00 each wholesale.
Now the local store which is the retailer has a markup of $1.20.
This means that the retail price is;
Retail price = wholesale price + mark up = $4.00 + $1.20
Retail price = $5.20
To find the percentage of the markup, it is the fraction of the wholesale price multiplied by 100%.
Thus;
Percentage of Markup is;
1.2/4 × 100% = 30%
