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A Hardware Store's Rate of Mark-Up on Selling Price on a Line

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Short Answer

A hardware store's rate of mark-up on selling price on a line of electric power tools is 27%. If the mark-up on a drill is $12.50:
a) What is the cost of the drill to the store?
b) What is the rate of mark-up on cost of the drill?


Definitions:

Customer's Expectation

The set of beliefs or standards that customers have regarding the level of service or quality of product they will receive from a provider.

Design

The process of conceptualizing and planning the creation of objects, systems, or interactions with specific considerations for function, aesthetics, and usability.

Delivery of Services

The process of providing a service to a customer or client, including all activities, decisions, and interactions that occur from the initial service design to the final delivery.

Customer Participation

Customer participation refers to the involvement of customers in the production or delivery process of a service, which can influence satisfaction and service quality.

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