Solve the problem. Round to the nearest cent or tenth of a percent.Cost = $41.50; selling price = $52.29. Find the markup and the rate of markup based on the selling price.
A. Markup = $21.58
Rate of markup based on selling price = 26.0%
B. Markup = $21.58
Rate of markup based on selling price = 58.5%
C. Markup = $10.79
Rate of markup based on selling price = 20.6%
D. Markup = $10.79
Rate of markup based on selling price = 79.4%
Answer: C
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