To find the selling price of the premium chocolate drink, we use the formula:

$\text{Selling Price} = \text{Cost Price} + \text{Mark-up}$

Since the mark-up rate is based on cost, we calculate:

$\text{Mark-up} = \text{Cost Price} \times \frac{\text{Mark-up Rate}}{100}$

Substituting the values:

$\text{Mark-up} = 14.92 \times \frac{13.7}{100} = 14.92 \times 0.137 = 2.04364$

$\text{Selling Price} = 14.92 + 2.04364 = 16.96$

Thus, Pantai Timor Mart will charge RM16.96 for a bottle of premium chocolate drink.

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Would you like a more detailed breakdown or have any questions?

Here are five related questions to practice:

1. If the mark-up rate were 20%, what would be the new selling price?
2. How much profit does Pantai Timor Mart make per bottle?
3. If the wholesale cost increases by RM2, what is the new selling price with the same mark-up rate?
4. If a discount of 5% is applied to the selling price, what is the final price?
5. What is the percentage increase from the wholesale price to the selling price?

Tip: Mark-up based on cost means the percentage increase is applied before setting the selling price. If it were based on selling price, the calculation would differ! 🚀