Chapter 1—An Overview of Marketing

70. An educational toy store can buy a world globe for $30. If the store owner sells the globe for $45, what is the markup based on the selling price? a. 15 percent b. 20 percent c. 25 percent d. 33 percent e. 50 percent ANS: D. Price - Cost = Markup. $45 - $30 = $15. $15 ÷ $45 = 33% markup. PTS: 1 REF: 262 OBJ: 17-5 TYPE: App ................
................