A retailer's cost and selling price for a bag of rice are N10,000 and N14,000 respectively. What is the company's mark-up on cost?

The mark-up on cost is the percentage increase in selling price over cost price. In this case, the cost of the bag of rice is N10,000 and the selling price is N14,000. To calculate the mark-up on cost, we need to find the difference between the selling price and the cost price, and then express it as a percentage of the cost price. The difference between the selling price and the cost price is N14,000 - N10,000 = N4,000. To express this as a percentage of the cost price, we divide the difference by the cost price and multiply by 100: (mark-up on cost) = (selling price - cost price) / cost price x 100% = (N4,000 / N10,000) x 100% = 40% Therefore, the company's mark-up on cost is 40%. The correct answer is.