Q. What is the full form of MRP?
a) Minimum retail price
b) Minimum rebate price
c) Maximum rebate price
d) Maximum retail price
Top Answer
Solution
✔ d) Maximum retail price
Explanation:
> The Maximum Retail Price (MRP) is the highest price of a product can be sold in India, including all taxes.
> MRP must be printed on all packaged goods.
> Consumers can bargain with the seller to sell at less than the MRP or ask for discounts on MRP, but overcharging is illegal.
Consumers can complain if someone sells a good at more than the printed price on the packet.
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