Business Mathematics Quiz

What does the Cost Price refer to?

• The price after adding profit

• The price a company pays for raw materials

• The price of the finished product

• The selling price of the product

Operating Cost includes which of the following?

• Only the cost of raw materials

• The cost of production and sale

• The selling price of the product

• The profit earned on the sale

The Selling Price is:

• The price at which goods are bought

• The final price the consumer pays for a product

• The cost of raw materials

• The cost of manufacturing a product

Profit is calculated by:

• Subtracting the cost price from the selling price

• Adding the operating cost to the selling price

• Subtracting cost price, operating cost from selling price

• Adding the operating cost to the cost price

The formula for Selling Price is:

• Selling Price = Cost Price + Profit

• Selling Price = Cost Price + Operating Cost + Profit

• Selling Price = Cost Price + Mark-Up

• Selling Price = Cost Price + Operating Cost

Mark-Up refers to:

• The cost of the product

• The additional amount added to the cost price

• The final price of the product

• The amount of profit earned

What is the formula to calculate Mark-Up?

• Mark-Up = Selling Price – Cost Price

• Mark-Up = Cost Price – Selling Price

• Mark-Up = Selling Price + Cost Price

• Mark-Up = Operating Cost + Profit

Mark-Up is different from Profit because:

• Mark-Up includes only raw material costs

• Profit includes operating expenses

• Both are the same

• Profit is the cost price minus the selling price

If a product costs Php 200 to make, the seller adds Php 50 as a mark-up, the Selling Price will be:

• Php 200

• Php 250

• Php 300

• Php 150

The Mark-Up on an item is Php 30, and the cost price is Php 100. What is the Selling Price?

• Php 70

• Php 130

• Php 100

• Php 120