JAMB - Commerce (2025 - No. 65)
The difference between the cost price and selling price of an article is
rebate
mark-up
discount
commission
Paliwanag
The difference between the cost price and selling price of an article is known as the mark-up. Mark-up is the amount added to the
cost price of goods to cover overheads and profit. It is the difference between the cost of a product and its selling price.
cost price of goods to cover overheads and profit. It is the difference between the cost of a product and its selling price.