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 600, and she sold the pair of skis for 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.
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 = 600 = $360
Step 2: Calculate the percent of profit based on selling price Percent of profit = (Profit / Selling price) * 100 Percent of profit = (960) * 100 = 37.5%
So, the store owner made a profit of 37.5% based on the selling price.
Similar Questions
The cost of a stove to a store owner was $550$550, and she sold the stove for $620$620.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.Answer
A bookseller bought 100 copies of a book and marked its price at 40% above the cost price. He sold 40 books giving a discount of 10% and the remaining at a discount of 20%. What is his overall profit percentage?16.80%17.60%20%22%None
Question No 48.A trader spent a total of Rs.840 to purchase two varieties of sugar. If the selling price of each variety of sugar was Rs.10 per kg more than the cost price, then the profit would be Rs.450. If the cost price of the first variety is Rs.5 less than the second one and the quantities purchased are in the ratio 2 : 1, what is the cost price (in Rs. per kg) of the second variety of sugar?
Grace sold some dolls and earned $87 at first. Then she sold the remaining s dolls at $4 each and made some earnings. Grace bought the dolls from the factory for $204. What is her total profit (the difference between her earnings and the cost of dolls bought from the factory)?
Our company sells a product for $120 per unit. Variable costs are $90 per unit and fixed costs are $4,000. The company expects to sell 200 units this year. How many units must we sell to earn a profit of $2,000?Group of answer choices200250300340
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.