(1 + markup percent on cost)× cost equals:
A)Cost at wholesale
B)Cost at retail
C)Selling price
D)Markup
E)None of these

Question

Quizplus · Accepted Answer

The formula (1 + markup percent on cost) × cost gives the selling price, which is the amount at which the product will be sold to customers. Therefore, the correct answer is C, Selling price. None of the other options are correct, as the cost at wholesale would be cost itself, the cost at retail would be the selling price minus markup, and markup would be the difference between selling price and cost.

(1 + Markup Percent on Cost)× Cost Equals