Giving suitable examples, describe the difference between the cost mark-up and the retail mark-up. Which mark-up is used more commonly? 

In the field of buying and merchandising, mark-up is an essential concept that retailers use to determine the selling price of goods. Mark-up refers to the amount added to the cost price of a product to determine its retail price. There are two primary types of mark-up commonly discussed in retail: cost mark-up and retail mark-up. Both serve different purposes, and their calculations are done differently.

Cost Mark-up refers to the percentage added to the cost of a product to determine its selling price. The formula to calculate cost mark-up is:

\[
\text{Cost Mark-up Percentage} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100
\]

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