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The difference between the cost price and selling price of an article is

Commerce
WAEC 2012

The difference between the cost price and selling price of an article is

  • A. commission
  • B. mark-up
  • C. rebate
  • D. discount
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Correct Answer: Option B
Explanation

Mark-up is simply the amount added to the cost price of goods to cover overheads and profit. This is the difference between the buying price and the selling price

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts