With a selling price of $2,000 and a cost of $800, what would the markup (at retail) be for this product?
A. $1,000
B. $2,000
C. $1,200
D. $800
E. $1,250
Answer: (C) When trying to find the markup based upon selling price, the formula to use is Amount of Markup = Selling Price - Cost. In this example, since the selling price is $2,000 and the cost is $800, the answer is $1,200. (A), (B), (D), and (E) are incorrect calculations.