I sold a book on the Internet for $6.00. I could have sold it at my garage sale for $1.00. I made $5 more on the Internet. What is the profit as a percentage? What is the formula for figuring that per centage?

To calculate the profit as a percentage, you can use the following formula:

Profit Percentage = (Profit / Cost) x 100

In this case, your profit is $5.00 (the difference between selling the book on the Internet and at the garage sale).

To use the formula, you need to know the cost, which in this scenario is $1.00.

Now let's plug these values into the formula:

Profit Percentage = (5.00 / 1.00) x 100 = 500%

Therefore, you made a profit of 500% by selling the book on the Internet compared to selling it at your garage sale.