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Hello John 🙂
I am struggling with the question 1.7 because I dont understand how it is calculated the target profit. I dont see this 20% of sales prices on the question.
Thanks for your help
EstherThere is a mark-up of 25% of cost.
So for every $100 cost, the profit is $25 and the selling price is $125.Or putting it the other way round, for every $125 selling price the profit is $25, which is 25/125 or 20% of selling price.
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