A business marked up its cost by 50%. This would mean a gross profit of

A business marked up its cost by 50%. This would mean a gross profit of
  • A.
    33(frac{1}{3})% on the cost price
  • B.
    50% on the selling price
  • C.
    66 (frac{2}{3})% on the selling price
  • D.
    66(frac{2}{3})% on the market price
  • E.
    33(frac{1}{3})% on the selling price
Correct Answer: Option E
Explanation
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