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an item selling for 46.40 was mark to obtain a gross profit of 45% on cost find the cost of this item​
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an item selling for 46.40 was mark to obtain a gross profit of 45% on cost find the cost of this item​

User Brian Rosner
by
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1 Answer

3 votes

Answer:

32

Step-by-step explanation:

Using Formula

Cost + (Cost*Margin) = Selling Price

Cost is not known...

Cost (1 + Margin) = Selling Price

Cost = Selling Price / 1 + Margin

Here, Margin is 0.45 of cost and selling price is 46.4

Cost = 44.4 / 1.45

Cost = 32

User JosephL
by
5.5k points
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