Solve the Problem

question 18

Multiple Choice

Solve the problem. Round dollars to the nearest cent and rates to the nearest tenth of a percent.
-A store manager paid $158 for an item and set the selling price at $189.60. What was the percent markup?

• A)20%
• B)21%
• C)16%
• D)22%

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Definitions:

Common Law

A legal system based on judicial decisions and precedents rather than statutory laws.

Visible Nuisance

An objectionable or annoying condition that can be seen, affecting the use or enjoyment of property.

Due Diligence

The obligation on the directors of a corporation to ensure that effective systems are in place to comply with legislation, and to monitor the systems to ensure compliance.

Environmental Offence

A violation of laws designed to protect the environment, including pollution and illegal waste disposal.