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Benson's SuperMart Sets Retail Prices So That the Mark-Up on Everything

question 63

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Benson's SuperMart sets retail prices so that the mark-up on everything they sell is 35% of the selling price. What price would Benson set on an item which costs him $3.28?


Definitions:

Mutual Funds

Investment funds that pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities.

Front-end Load

A fee charged to an investor at the time of their initial investment into a mutual fund, typically used for the fund's sales commission.

Expense Ratio

The measure of what it costs an investment company to operate a mutual fund, expressed as a percentage of the fund's assets.

Mutual Fund

An investment vehicle that pools money from many investors to purchase a diversified portfolio of stocks, bonds, or other securities.

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