Section: Principles of Marketing

37) What is the selling price on cost of an item that costs $10.00 and has a markup percent on cost of 40%?

1. $10.00
2. $12.00
3. $14.00
4. $16.00
5. $18.00

Selling price = cost + markup in the formula used. This gives a selling price of $10.00 * .4 resulting in $14.00.