Answer:
y = 1.68x
Step-by-step explanation:
The markup rate of a product or service refers to how higher the selling price is than the total production cost. In this case, this company doesn't produce the bikes, instead it purchases them from a wholesaler, distributor or even the factory, and then resells them in order to make a profit.
E.g. Beach Bicycles purchases two-seater bikes at $200 each, and then it will resell them to their customers at 1.68 x $200 = $336. The total markup in this example is $136, which represents $136/$200 = 68% of the purchase price.
