Based on the information given the percent markup is 40%.
Using this Formula
Percent markup = (New price - Old price)/Old price
Where:
New price(Retail price) = $275
Old price(Paid amount) = $185
Let plug in the formula
Percent markup = ( $275 - $185)/$185
Percent markup = $90/$185
Percent markup = 0.48 ×100
Percent markup = 48%
Hence, the percent markup is 48%.
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