Applying the formula, it is found that the percent markup is of 40%.
----------------------------------
- The percent markup is given by the markup multiplied by 100% and divided by the initial price.
- The wholesale price is of $27.25, which is the initial price, with a sale price of $38.15, thus, the change is of 38.15 - 27.25 = $10.9.
- Thus, applying the formula, it is found that the percent markup is given by:
[tex]P = \frac{10.9}{27.25} \times 100\% = 40\%[/tex]
The percent markup is of 40%.
A similar problem is given at https://brainly.com/question/21051927
