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:

Income

The amount of money received by an individual or entity in exchange for labor or through investments over a certain period.

Efficient Use

The utilization of resources in a manner that maximizes the production of goods and services.

Resources

Assets or inputs available for use in the production process, including natural, human, and capital resources.

Opportunities

Refer to situations where individuals or organizations can exploit conditions to achieve goals or positive outcomes.