A club sold each cap for $12. The club made a profit of $3 for each cap sold. What percent of the selling price of each cap is the profit?
3/12 = 0.25 = 25%
100 * 3/12 = 100 /4 = 25%
25%
To find the percent of the selling price that corresponds to the profit, we need to calculate the profit as a percentage of the selling price.
First, let's determine the profit amount in dollars. It is stated that the club made a profit of $3 for each cap sold.
Next, we need to determine the selling price of each cap, which is mentioned as $12.
To calculate the profit as a percentage of the selling price, we use the following formula:
Profit percentage = (Profit amount / Selling price) × 100
Substituting the values we have:
Profit percentage = ($3 / $12) × 100
Now, simplify the expression:
Profit percentage = 0.25 × 100
The profit percentage is therefore 25%.
Therefore, the profit as a percentage of the selling price for each cap is 25%.