An Item Costs $63

question 224

Short Answer

An item costs $63. The selling price is set to include a profit of 25% of the selling price and estimated overhead expenses of 30% of the selling price. What is the rate of mark-up on cost?

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Definitions:

Racial Hierarchy

A system of classification that positions different races or ethnic groups in a ranked order, often with the erroneous justification of innate superiority or inferiority among them.

Caste System

A traditional form of social stratification based on heredity, primarily found in India, classifying people into rigid hierarchical groups based on their occupation and birth.

Hierarchical System

A structured organization of positions or levels in which entities are ranked one above the other based on authority or status.

Genetic Variation

The diversity of gene frequencies within a population, which contributes to differences in physical, physiological, and behavioral attributes.