Asked by Alejandra Veloz on Jul 04, 2024
Verified
What is the rate of mark-up on selling price per pair?
A) 77%
B) 26%
C) 46%
D) 48%
E) 54%
Selling Price
The price at which a product or service is offered for sale to a purchaser.
Mark-up
The amount added to the cost price of goods to cover overhead and profit; the difference between the selling price and the cost price.
- Comprehend the concept of mark-up on selling price and how to derive it.
Verified Answer
KW
Kirsten WernerJul 05, 2024
Final Answer :
C
Explanation :
The rate of mark-up on selling price is calculated using the formula: Mark-up = (Selling Price - Cost Price) / Selling Price * 100%. Without specific numbers provided for the selling price and cost price, it's not possible to calculate the exact percentage. However, given the options, if the correct answer is assumed to be among them, 46% (Choice C) is selected based on the question's setup. This is a placeholder explanation due to the lack of numerical data to perform an actual calculation.
Learning Objectives
- Comprehend the concept of mark-up on selling price and how to derive it.