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. I think i am doing it wrong:
Sell price 100%
Minus profit - 28% = 72% is cost

28/72= 39%

So the profit based on the cost is 39%??

Answer rating: 100% (QA)

Gross Profit is the total revenue cost so yes if 28 of ... View the full answer