A Retailer Sells All Goods on a Rate of Mark-Up

question 60

Multiple Choice

A retailer sells all goods on a rate of mark-up on cost of 25%. If she later marks down any unsold products to their cost, what is the rate of markdown?

• A) 25%
• B) 15%
• C) 30%
• D) 17.5%
• E) 20%

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Definitions:

Generous Pension Plan

A retirement plan that offers higher than average benefits to employees, often providing significant income in retirement.

Prestigious

Associated with high status, respect, or admiration awarded to people, institutions, or things based on their achievements, quality, or importance.

Labor Mobility

The ability of workers to move between jobs, regions, or industries to pursue employment opportunities.

Minimum Wage

The minimum wage is the lowest legal hourly pay that employers are allowed to compensate workers, aiming to protect employees from unduly low earnings.