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WAEC Marketing 2022 Question 18

Question 18

Pricing

Use the following information to answer questions 18 and 19
A retailer's cost and selling price for a bag of rice are ₦10,000 and ₦14,000 respectively.
What is the company's mark-up on cost?

  1. A.28.6%
  2. B.35%
  3. C.40%
  4. D.71.4%
Show the answer and explanation

Answer: C (40%)

Explanation

Mark-up = ₦14,000 − ₦10,000 = ₦4,000; on cost = 4,000/10,000 × 100 = 40%.