medium · GMAT Quant
A retailer determines the markup factor M of an item using the relationship M = dfrac1 + p1 - p, where p is the desired profit margin as a decimal.
If the retailer requires a markup factor of 2.5, what profit margin p must be achieved?
- 0.43
- 0.60
- 0.15
- 0.35
- 0.50
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