So the mark up is 23,000-19,700 = 3,300
To figure of what the percent of markup is based on the SELLING price:
3,300/23,000 = x/100; now cross multiply and you have:
23,000x = 3,300(100)
23,000x = 330,000; isolate x by dividing both sides by 23,000, and you get x= 14.35
To check your work multiply 23,000 x 0.1435 = 3000.05, which was the approximate amount of markup
