Mr. Havel bought a car for $2400 and sold it for $2700. what was the percent of profit for Mr. Havel in selling the car?
The wholesale price for a CD is 1.75. A store marks it up to 15.99. What is the percent markup for the CD? Please tell me how to work this problem.
22% profit.
2400/2700 = 88%
100%-88% = 22%
To find the percentage of profit, we need to calculate the profit made by Mr. Havel first. The profit is calculated by subtracting the cost price (the amount at which he bought the car) from the selling price (the amount at which he sold the car).
Cost Price = $2400
Selling Price = $2700
Profit = Selling Price - Cost Price
Profit = $2700 - $2400
Profit = $300
Now, we can calculate the percentage of profit. The formula for finding the percentage of profit is:
Percentage of profit = (Profit / Cost Price) * 100
Percentage of profit = ($300 / $2400) * 100
Percentage of profit = 0.125 * 100
Percentage of profit = 12.5%
So, Mr. Havel made a profit of 12.5% by selling the car.
His profit is $300.
300 / 2400 = 0.125 = 12.5%