Fine Framings, a Small Framing Shop, Uses Mark-Up Pricing to Arrive

question 13

Multiple Choice

Fine Framings, a small framing shop, uses mark-up pricing to arrive at a final selling price.The business sells its frames at a price of R25, given a R15 unit cost.Fine Framings' mark-up on the selling price is ____, and its mark-up on cost is ____.

• A)66-2/3%, 40%
• B)40%, 66-2/3%
• C)167%, 67%
• D)250%, 100%

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Definitions:

Low-value

Low-value refers to items, services, or transactions that are considered to have minimal worth or importance, either in terms of monetary value or significance.

High-value

Referring to items or services that possess great monetary, instrumental, or intrinsic worth.

Low-value

Pertains to items or assets that carry a lesser worth or significance, either monetarily or in terms of utility.

Set Price

The predetermined fixed amount at which a product or service is sold to consumers.