Answer:
The markup percentage of the IPhone 7 is $218.18%.
Step-by-step explanation:
The IPhone 7 costs for Apple to make = $220
The cost in stores = $700
The difference between costing price and selling price = 700 -220 = $480
The markup percentage of the IPhone 7 = [tex]\frac{480}{220}[/tex] × 100
= $218.18
The markup percentage of the IPhone 7 is $218.18%.
