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WAEC Financial Accounting 2021 Question 26

Question 26

Incomplete Records

A business includes 50% mark-up on all its products. This would mean margin of

  1. A.66⅔%
  2. B.66⅓%
  3. C.33⅔%
  4. D.33⅓%.
Show the answer and explanation

Answer: D (33⅓%.)

Explanation

Cost 100, profit 50, sales 150: margin = 50 ÷ 150 = 33⅓%.