The purchase price of an article is $48. In order to include 20% of cost for overhead and to provide $12 of net profit, the markup should be\nOptions:\n(A) 15%\n(B) 25%\n(C) 35%\n(D) 40%\n(E) 45% Stream of consciousness:
User
Cost price of article = 48$\n% of overhead cost = 20\nNet profit = 12 $\nWe need to calculate % markup\nNet profit as % of cost price = (12/48)*100 = 25%\nTotal markup should be = 25 + 20 = 45%
Thus, the answer is (E).
Assistant