An Apple IPod Sells for $299, Which Is Marked Up

question 52

Multiple Choice

An Apple iPod sells for $299, which is marked up 40% of the selling price. The cost of the iPod is:

• A)$197.40
• B)$179.40
• C)$149.70
• D)$194.70
• E)None of these

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Definitions:

Gas Stations

Places where fuel for vehicles, such as gasoline or diesel, is sold to the public.

Average Price

The central value of a set of prices, calculated as the sum of all prices divided by the number of prices.

Dietary Supplement

Products taken orally that contain dietary ingredients intended to supplement the diet, such as vitamins, minerals, herbs, or other botanicals.

Weight Loss

The process of losing body weight, typically through diet, exercise, or a combination of both strategies.