A company goods sent to branch at invoiced price is ₦30,870 at cost plus 25%. The mark-up is
- ₦20,000
- ₦6,000
-
₦6,174
- ₦10,000
The correct answer is: C
Explanation
Convert mark-up to margin
\(\frac{25}{100}={1}{4}={1}{1+4}={1}{5}\)
profit = \(\frac{1}{5}\) x 30,870 = 6,174