RIO is a retailer of smart televisions. Typically, the company purchases a television for $1,200 and sells it for $1,500. What is the gross profit margin on this television? a. 80% b. $300 c. 25% d. 20%

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What is the gross profit margin on this television?

RIO is a retailer of smart televisions. Typically, the company
purchases a television for $1,200 and sells it for $1,500. What is
the gross profit margin on this television?
a. 80%
b. $300
c. 25%
d. 20%
Transcribed Image Text:RIO is a retailer of smart televisions. Typically, the company purchases a television for $1,200 and sells it for $1,500. What is the gross profit margin on this television? a. 80% b. $300 c. 25% d. 20%
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