The purchase price of an article is $48. In order to include 30% of cost for overhead and to provide $12 of net profit, the markup should be  Choose the most appropriate option:
A) 15%
B) 25%
C) 35%
D) 40%
E) 55%
Cost price of article = 48$   % of overhead cost = 30   Net profit = 12 $   We need to calculate % markup   Net profit as % of cost price = (12/48)*100= 
<gadget id="calculator">(12/48)*100</gadget>
<output>25</output>
25%   Total markup should be= 25 + 30= 
<gadget id="calculator">25 + 30</gadget>
<output>55</output>
55%   Answer 55%
<result>E</result>
The purchase price of an article is $48. In order to include 30% of cost for overhead and to provide $12 of net profit, the markup should be