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A product costing $350, less 30%, 20%, and 10%, sells to allow for overhead expenses of 30% of the selling price and profit of 20%

A product costing $350, less 30%, 20%, and 10%, sells to allow for overhead expenses of 30% of the selling price and profit of 20% of the selling price. What is the rate of markup on cost?

Multiple Choice

50%

75%

100% the Correct answer is this but need explanation please

30%

20%

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