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A Set of Speakers That Costs $91 Sells for a 25

question 35

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A set of speakers that costs $91 sells for a 25% markup based on the cost. What is the markup of the speakers?


Definitions:

Credit Sales

Sales processes in which products or services are provided to a customer, with the expectation that payment will be made in the future.

Promissory Note

An economic device featuring a commitment in writing from one party to another, agreeing to transfer a specific sum of money, which can be requested anytime or on an agreed-upon date later.

Plumbing Components

The various fittings, fixtures, and pipes used in the installation and maintenance of plumbing systems.

Dishonored Note

A promissory note that has not been paid by the issuer at its maturity date.

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