WAEC Marketing 2022 Objective — Question 18
Question 18 of 40 from the West African Examinations Council (WAEC) Marketing 2022 Objective paper, with the correct answer and a full explanation.
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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?
- A. 28.6%
- B. 35%
- C. 40%Correct
- D. 71.4%
Explanation
Mark-up = profit/cost = (14,000−10,000)/10,000 = 4,000/10,000 = 0.4 = 40%.
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