Answered: A business determines selling price by…

A business determines selling price by adding a mark-up of 30% to cost. The profit earned on a product with a selling price of £390 will be: a) £300 b) £117 c) £210 d) £90

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A business determines selling price by adding a mark-up of 30% to cost. The profit earned on a product with a selling price of £390 will be:

a) £300
b) £117
c) £210
d) £90

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