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12 October, 17:34

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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  1. 12 October, 19:43
    0
    32

    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
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