Asked by Melissa Ferreras on May 31, 2024
Verified
A product with a wholesale price of $4,524 is sold less 49% and 17%. The retail price of the product is $3,070. Determine the mark-up on cost.
Retail Price
The price at which goods or services are sold to the end consumer, inclusive of any markup from wholesalers or distributors.
Mark-up on Cost
The percentage added to the cost of goods to cover overhead and profit; the difference between the cost of a product and its selling price.
- Grasp the fundamentals and put into practice different percentage calculations in retail pricing, counting markdowns, markups, and discounts.
Verified Answer
AP
Learning Objectives
- Grasp the fundamentals and put into practice different percentage calculations in retail pricing, counting markdowns, markups, and discounts.
Related questions
Furniture Warehouse Bought Freezers for $1,800 Less 33 \frac{1}{3} % and ...
The Wholesale Price of an Industrial Part Is $5,523 Less ...
A Wholesaler Sells a Product for $4,637 Less 36% and ...
An Item Purchased for $150, Less 25%, Was Marked Up ...
If the Rate of Mark-Up on Selling Price of Lettuce ...