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The cost of a pair of skis to a store owner was $600$⁢600, and she sold the pair of skis for $960$⁢960.Step 3 of 3 :  What was her percent of profit based on selling price? Follow the problem-solving process and round your answer to the nearest hundredth if necessary.

Question

The cost of a pair of skis to a store owner was 600600⁢600, and she sold the pair of skis for 960960⁢960.Step 3 of 3 :  What was her percent of profit based on selling price? Follow the problem-solving process and round your answer to the nearest hundredth if necessary.

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Solution

To calculate the percent of profit based on selling price, we first need to determine the amount of profit made.

Step 1: Calculate the profit Profit = Selling price - Cost price Profit = 960960 - 600 = $360

Step 2: Calculate the percent of profit based on selling price Percent of profit = (Profit / Selling price) * 100 Percent of profit = (360/360 / 960) * 100 = 37.5%

So, the store owner made a profit of 37.5% based on the selling price.

This problem has been solved

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