WAEC Financial Accounting 2007 Question 25

Question 25

Incomplete Records

The cost price of a book is Le 9,000 and the selling price is Le 12,000. The mark up is

  1. A.66⅔%
  2. B.50%
  3. C.33⅓%
  4. D.25%.
Show the answer and explanation

Answer: C (33⅓%)

Explanation

3,000 ÷ 9,000 = 33⅓%.