A Customer Just Paid $318 for a Blu-Ray Player

question 83

Multiple Choice

A customer just paid $318 for a Blu-ray player. If the cost was 60% of selling price what was the mark up amount?

• A) $237.08
• B) $127.20
• C) $198.75
• D) $298.92

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Definitions:

Writing Requirement

The legal necessity for certain contracts to be in writing in order to be enforceable, such as real estate transactions.

Reliance

Dependence or trust in something or someone for support or to fulfill needs.

Subdivision

The act of dividing land into plots or pieces that may be developed, sold, or otherwise used separately.

Statute of Frauds

A legal principle requiring certain types of contracts, such as those involving land, to be in writing and signed by all parties to be enforceable.