Asked by anonymous
If the gross profit rate on the sale of a radio is 28% of the selling price, what is the gross profit rate based on the cost of the radio?
Answers
Answered by
Damon
say we sold for 100 dollars
we made 28 dollars
and it cost 100 -28= 72 dollars
so
we made 28 dollars on an item costing us 72 dollars
28/72 = .388 = 38.8 %
we made 28 dollars
and it cost 100 -28= 72 dollars
so
we made 28 dollars on an item costing us 72 dollars
28/72 = .388 = 38.8 %
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