calculate the gross profit for an item that cost the business $8 and sold for $25. gross profit = $?
calculate the gross profit for an item that cost the business $8 and sold for $25. gross profit = $?
Answer
Answer:
$17$
Explanation:
Step1: Recall the gross - profit formula
Gross Profit = Selling Price - Cost Price
Step2: Identify the values
Selling Price = $$25$, Cost Price = $$8$
Step3: Calculate the gross profit
Gross Profit = $25 - 8=$17$