Annual gross mark-up

Question

Hi there,

Isn't the answer for the second part of Q1 different as the question asked for gross mark-up instead of profit margin? The answer given is annual profit margin of 28.6% and was wondering if I missed something.

If it is indeed different, may I know what would your answer be? Thanks! :)

Answer 1

Hi there,

I think you're right here!

They ask for markup but then provide margin…two different (but easily confused concepts)

Margin is (sales minus the cost) divided by sales.

Markup is (sales minus the cost) divided by cost.

Answer 2

AI and ChatGPT are definitely game-changers for consulting prep! They’re great for structuring case frameworks, gener... (read entire answer)

AI and ChatGPT are definitely game-changers for consulting prep! They’re great for structuring case frameworks, generating potential interview questions, and even simulating cas... (read entire answer)

Answer 3

It's important to provide a genuine response that aligns with your personal values and professional goals. Here's a s... (read entire answer)

It's important to provide a genuine response that aligns with your personal values and professional goals. Here's a structured approach :Reflect on Personal ValuesRelate to Prof... (read entire answer)