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If the Rate of Mark-Up on an Item Is 80

Question 230

Multiple Choice

If the rate of mark-up on an item is 80% of cost and it is later sold after a 40% markdown, what is the rate gross profit that was actually realized?

A) 40% of cost
B) 32% of cost
C) -16% of cost
D) 8% of cost
E) Zero

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