SOLUTION: What is the profit margin of a product bought for $145.85 and sold for $214.85?

SOLUTION: What is the profit margin of a product bought for $145.85 and sold for $214.85?

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Question 244539: What is the profit margin of a product bought for $145.85 and sold for $214.85?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
profit is selling price minus costs
the only cost we know of is the purchase price.
profit margin is the profit divided by selling price.
214.85-145.85
leaves a profit of $69 dollars
69 divided by selling price 214.85=.3211=32%

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