If a Grocery Store's Rate of Mark-Up on Selling Price

question 202

Short Answer

If a grocery store's rate of mark-up on selling price of tomatoes is 55%, what is the rate of mark-up on cost of the tomatoes?

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Definitions:

Robust Design

A design that can be produced to requirements even with unfavorable conditions in the production process.

Production

The process of creating, manufacturing, or producing goods and services.

Assembly

The process of putting together individual components to form a complete product or unit.

Product Life Cycle

The course of a product's sales and profits over its lifetime, typically including the phases of introduction, growth, maturity, and decline.