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WAEC Commerce 1993 Question 71

Question 71

Business Calculations

A retailer's mark-up is

  1. A.profit divided by the average stock
  2. B.sales divided by the average stock
  3. C.gross profit less indirect expenses
  4. D.total cost less total sales
  5. E.the selling price less the cost price.
Show the answer and explanation

Answer: E (the selling price less the cost price.)

Explanation

Mark-up is the amount added to cost price to get selling price.