Answer (work needs to be shown):

Rate of markup on cost = 209.52%

Rate of markup on selling price = 67.69%

Just Desserts buys cheesecakes from General Bakeries at $33.60 per cheesecake. It then cuts each cheesecake into 16 slices and sells them to customers at $6.50 per slice. Calculate the rate of markup on cost and the rate of markup on selling price