A Company Buys in a Unit at a Cost of £2

question 20

Multiple Choice

A company buys in a unit at a cost of £2 per unit.The selling price is £3 per unit.Which of the following statements is correct?

• A) Mark up is 67%; Margin is 150%.
• B) Mark up is 150%; Margin is 67%
• C) Mark-up is 50%; Margin is 33%
• D) Mark-up is 33%; Margin is 50%

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Definitions:

Nearest Whole Percent

Rounding off a percentage to the closest whole number.

Administrative Rule

A regulation issued by government agencies that has the force of law, governing the implementation of specific statutes.

Consumer Law

A statute or administrative rule serving to protect consumer interests.

Consumer Interests

The priorities and concerns of individuals in their role as consumers, focusing on the protection and promotion of their rights and well-being.