Rounded to the Nearest Whole Percent, a Markup of 35

question 90

Multiple Choice

Rounded to the nearest whole percent, a markup of 35% on cost is equivalent to what percentage of gross profit on selling price?

• A) 26%
• B) 29%
• C) 40%
• D) 60%

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Definitions:

Adverse Selection

A situation in consumer choice in which asymmetric information leads to the selection of undesirable alternatives by one party.

Fire Insurance

A type of property insurance that covers damage and losses caused by fire, providing compensation to policy holders for the repair or replacement of affected property.

Low-risk

Refers to investments or economic decisions that have a low probability of resulting in financial loss.

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