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larisa86 [58]
3 years ago
5

If the store purchases a product at a wholesale cost of $1.65, and it is sold at $2.20, what is the gross profit percentage? (fo

rmula: gross profit percentage = [(retail - cost) divided by retail] x 100)
Mathematics
1 answer:
Irina-Kira [14]3 years ago
7 0
Using this formula, the gross profit percentage is approx. 75%
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Answer:

0.85

Step-by-step explanation:

Given two events A and B, the probability that either A or B occurs is given by:

p(A\cup B) = p(A)+p(B)-p(A\cap B)

where

p(A) the probability that A occurs

p(B) is the probability that B occurs

p(A\cap B) is the probability that both A and B occur at the  same time

In this problem, we know the following facts:

p(o) = 0.83 is the probability that the car requires an oil change

p(b)=0.17 is the probability that the car requires a brake repair

p(o\cap b) = 0.15 is the probability that the car requires both an oil change and brake repair

Therefore, the probability that either o (car requiring oil change) or b (car requiring brake repait) occur is:

p(o\cup b)=p(o)+p(b)-p(o\cap b)=0.83+0.17-0.15 = 0.85

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