A seller buys an item from a manufacturer for $100 and sells it to a customer for $120. which of these terms describes this extr

Question

Irina18 [472]

3 years ago

15

A seller buys an item from a manufacturer for $100 and sells it to a customer for $120. which of these terms describes this extr

a $20?
a. costb. pricec. markup

Mathematics

2 answers:

SashulF [63] · Answer 1 · 2022-08-05T21:01:42+03:00

SashulF [63]3 years ago

6 0

Markup: The amount added to the cost price of goods to cover overhead and profit.

Kaylis [27] · Answer 2 · 2022-08-05T22:55:50+03:00

Answer:

markup

Explanation:

sellers buy items from manufacturers and need a profit whenever they sell a product. Therefore, they cannot allow the cost price to equal the selling price. So they add an extra amount, called a markup, to the cost price to arrive at the selling price.