Question: A retailer prices her goods to cover operating expenses at 30% of cost and to generate a profit of 20% of cost. For an item

A retailer prices her goods to cover operating expenses at 30% of cost and to generate a profit of 20% of cost. For an item she buys from her wholesaler at $49, determine:
a. Its selling price.
b. The rate of markup on cost.
c. The rate of markup on selling price.

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