Asked by nivetha duraisamy on Jul 18, 2024
Verified
An item costs $63. The selling price is set to include a profit of 25% of the selling price and estimated overhead expenses of 30% of the selling price. What is the rate of mark-up on cost?
Rate of Mark-up
A pricing strategy calculation, expressed as a percentage, indicating how much higher a product's selling price is compared to its cost to produce or purchase.
Overhead Expenses
Costs not directly tied to the creation of a product or service but necessary for running a business, such as rent and utilities.
- Grasp the concept and employ various percentage calculations in retail pricing, including markdowns, markups, and discounts.
Verified Answer
MW
Learning Objectives
- Grasp the concept and employ various percentage calculations in retail pricing, including markdowns, markups, and discounts.
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