Profit marginmediumFree question
Profit margin Numerical Reasoning Question
An item costs £186 and sells for £223. What is the profit margin (profit as a percentage of the selling price)?
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Margin = profit ÷ selling price. Dividing by cost gives markup — a different number. The correct answer is 16.6%. Traps to avoid: 83.4% comes from the "cost as share" error; 9.0% comes from the "wrong base sum" error; 33.2% comes from the "doubled" error; 19.9% comes from the "markup not margin" error.
The wrong answers here have names
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