Following the industry average, your firm accepts a 20% markup on sales. If the unit cost of your product is Jordan Dinar (JD) 20.00, then the retail price would be ________.

Name: Following the industry average, your firm accepts a 20% markup on sales. If the unit cost of your product is Jordan Dinar (JD) 20.00, then the retail price would be ________.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A 20% markup on a JD 20.00 cost means the retail price is JD 20.00 + (20% of JD 20.00) = JD 20.00 + JD 4.00 = JD 24.00.

Following the Industry Average, Your Firm Accepts a 20% Markup