To find the markup rate, we use the following formula:

$\text{Markup Rate} = \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \times 100$

Here:

• Cost Price = $32
• Selling Price = $90

Substituting the values:

$\text{Markup Rate} = \frac{90 - 32}{32} \times 100 = \frac{58}{32} \times 100 \approx 181.25\%$

Rounding to the nearest whole percent:

$\text{Markup Rate} = 181\%$

The markup rate is 181%.

Would you like further details or have any questions?

Here are five related questions for further practice:

1. What would the markup rate be if the cost price was $50 and the selling price $120?
2. If the markup rate is 200% and the cost price is $40, what is the selling price?
3. How would the markup rate change if the cost increased to $40 but the selling price remained $90?
4. What is the formula for calculating the cost price given the selling price and markup rate?
5. How does a discount on the selling price affect the markup rate?

Tip: To quickly estimate a markup, divide the difference between the selling price and cost price by the cost price, then multiply by 100!