If a product has a cost of $160 and a markup percentage of 60 % what is the selling margin of the product?
A)$256
B)$160
C)$96
D)Not enough information to calculate

Question

Quizplus · Accepted Answer

To calculate the selling price of the product, we need to add the markup to the cost.
Markup = 60% of $160 = 0.60 x $160 = $96
Selling price = Cost + Markup = $160 + $96 = $256
The selling margin is the difference between the selling price and the cost of the product.
Selling margin = Selling price - Cost = $256 - $160 = $96. Therefore, the correct answer is C.

If a Product Has a Cost of $160 and a Markup