Multiple Choice
A retailer marks up all cosmetic products to allow for overhead expenses of 30% of cost and operating profit of 40% of cost. If a product does not sell within two months, the product is marked down to its break-even price. What rate of markdown is the retailer using?
A) 40%
B) 23.5%
C) 30%
D) 70%
E) 50%
Correct Answer:
Verified
Correct Answer:
Verified
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