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Ivy purchases phones for $ 2 8 0 . 5 0 each and is selling them for $ 3 2 0 . 0 0 each.

Ivy purchases phones for $280.50 each and is selling them for $320.00 each.
a. What is the rate of markup on cost?
%
Round to two decimal places
b. What is the rate of markup on selling price?
%
Round to two decimal places
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