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A 500 rupee item marked up 40 per cent retails at:
A620 rupees
B700 rupees
C540 rupees
D900 rupees
Answer & Solution
Correct answer: B. 700 rupees
1. The markup is 40 per cent of 500, that is 200.
2. A markup is added to the cost.
3. 500 plus 200 gives 700 rupees.
_Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_
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