A retailer's cost and selling price for a bag of rice are N10,000 and N14,000 respectively.
What is the company's mark-up on cost?
The correct answer is C. 40%
The company’s mark-up on cost is calculated by subtracting the cost from the selling price, dividing by the cost, and then multiplying by 100 to get a percentage.
So, the mark-up on cost is ((N14,000 - N10,000) / N10,000) * 100 = 40%.
Therefore, the company’s mark-up on cost is C. 40%.
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