12-24-2007, 11:46 AM
I'm took a practice test and don't understand the answer given.
A toy manufacturing firm sold its product through a toy wholesaler, who in turn sold to appropriate retailers. The manufacture's price is $20 to the wholesaler, whose markup is usually 20 percent on the selling price to the retailer. If the retailer's markup on the selling price to the customer is 50 percent, what is the price to the customer.
24.00
30.00
36.00
37.50
50.00
I had selected 36 dollars because 20% markup of 20 dollars to retailer would make the price 24 dollars. 50% markup of 24 dollars is 12 dollars and would make the price 36 dollars.
The answer is actually 50 dollars. Can somebody help me on this?
This test is very Vague. I can't understand how somebody actually says if you watch TV you can pass this test. I read the entire Principles of Marketing a Detailed Tutorial From KnowThis.com which took 3 days, the REA study guide twice, and InstantCert twice, and scored only 28/50 on the CLEP Principles of Marketing study guide I bought for 10 bucks.
well see how my first REA practice test is going to be. Hoping to read the 70 page REA study again, and go over the InstanctCert twice more and do the three REA practice test as I have the exam this Wed :eek:
A toy manufacturing firm sold its product through a toy wholesaler, who in turn sold to appropriate retailers. The manufacture's price is $20 to the wholesaler, whose markup is usually 20 percent on the selling price to the retailer. If the retailer's markup on the selling price to the customer is 50 percent, what is the price to the customer.
24.00
30.00
36.00
37.50
50.00
I had selected 36 dollars because 20% markup of 20 dollars to retailer would make the price 24 dollars. 50% markup of 24 dollars is 12 dollars and would make the price 36 dollars.
The answer is actually 50 dollars. Can somebody help me on this?
This test is very Vague. I can't understand how somebody actually says if you watch TV you can pass this test. I read the entire Principles of Marketing a Detailed Tutorial From KnowThis.com which took 3 days, the REA study guide twice, and InstantCert twice, and scored only 28/50 on the CLEP Principles of Marketing study guide I bought for 10 bucks.
well see how my first REA practice test is going to be. Hoping to read the 70 page REA study again, and go over the InstanctCert twice more and do the three REA practice test as I have the exam this Wed :eek:
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