The markup amount is
markup = (selling price) - (cost)
= $440 - $396 = $44
The markup rate is usually expressed in terms of the cost.
(markup rate) = markup/cost
= $44/$396*100% = (1/9)*100% = 11.1%
markup = (selling price) - (cost)
= $440 - $396 = $44
The markup rate is usually expressed in terms of the cost.
(markup rate) = markup/cost
= $44/$396*100% = (1/9)*100% = 11.1%