Mr lippman bought a dryer for 160 bucks and sold it for 240 bucks. if overhead expenses were 20% of the selling price, what was the rate of profit on the selling price?
This is the concept of business mathematics, the profit will be given by: profit=selling price-(buying price+overheads) overheads=20/100*240=$48 thus the profits will be: profit=240-(160+48) =240-208 =$32
