To find the mark up percentage, we have to use the following formula
[tex] \frac{change \ in \ cost }{origional \ cost} * 100 [/tex]
THe origional price is $ 40 and marked up price is $ 59.75.
So the required percentage is
[tex] = \frac{59.75-40}{40}*100 = 49.375% [/tex]
So it is approx 49% .
