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What is the markup rate on cost and the markup rate on selling price?

Anonymous
timer Asked: Jan 8th, 2016
Question description

Cook-n-Serve carries oven mitts that have a selling price of $13.80 a pair. Cook-n-Serve buys the mitts from a wholesaler and receives a 40% trade discount. What is the markup rate on cost and the markup rate on selling price?

67%; 40%

100%; 45%

33%; 60%

167%; 145%


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