The purchase price of an article is $48. In order to include 20% of cost for overhead and to provide $12 of net profit, the markup should be	Choose the correct answer
A) 15 %  B) 25 %  C) 35 %  D) 40 %  E) 45 %

Rationale: "cost price of article = 48 $ % of overhead cost = 20 net profit = 12 $ we need to calculate % markup net profit as % of cost price = ( 12 / 48 ) * 100 = 25 % total markup should be = 25 + 20 = 45 % answer e"
Answer: E