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WAEC Commerce 2012 Question 32

Question 32

Business Calculations

The difference between the cost price and selling price of an article is

  1. A.commission.
  2. B.mark-up
  3. C.rebate.
  4. D.discount.
Show the answer and explanation

Answer: B (mark-up)

Explanation

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