Estimate an Answer to the Problem

question 8

Multiple Choice

Estimate an answer to the problem.
-An advertisement states that television sets are on sale at B&G Electronics. The sale prices are: 13-inch set, $147.99; 19-inch set, $201.95; 21-inch set, $231.99; 27-inch set, $299.97; 50-inch set, $502.97. Estimate the approximate number of 19-inch sets that can be bought for $2037.

• A)10
• B)15
• C)13
• D)8

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Definitions:

Gross Profit Percentage

A financial ratio that compares the gross profit of a business to its net sales, expressed as a percentage.

Net Sales

The revenue from sales of goods or services after subtracting returns, allowances for damaged or missing goods, and discounts.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Selling Price

The amount of money for which a product or service is sold to the customer.