Sorry I keep posting questions. Financial maths is hard.
A kitchen cupboard manufacturer is talking to a satisfied consumer. The consumer says he got a very good deal from the retailer, because he paid $604.80 (excluding GST) for a cupboard after getting a 20% discount. The manufacturer got $300 for the cupboard, and knows that the wholesaler uses a markup of 40%. What was the retailer's markup?
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What I did:
This is the way I see it.
Product is made by the manufacturer. The manufacturer sells it to a wholesaler. The wholesaler sells
A kitchen cupboard manufacturer is talking to a satisfied consumer. The consumer says he got a very good deal from the retailer, because he paid $604.80 (excluding GST) for a cupboard after getting a 20% discount. The manufacturer got $300 for the cupboard, and knows that the wholesaler uses a markup of 40%. What was the retailer's markup?
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What I did:
This is the way I see it.
Product is made by the manufacturer. The manufacturer sells it to a wholesaler. The wholesaler sells
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