A skirt which cost a retailer 75.00 is sold at a profit of 25% of the selling price. What is the profit?
The selling price is obtained by adding the profit to the cost price: 75.00 + (25% * 75.00) = 75.00 + (0.25 * 75.00) = 75.00 + 18.75 = 93.75
The profit is the difference between the selling price and the cost price: 93.75 - 75.00 = 18.75
The profit is $18.75.
To find the profit, we first need to determine the selling price.
Given that the profit is 25% of the selling price, we can say the selling price is 100% + 25% = 125% of the original price.
To find the selling price, we can multiply the original price by 125%/100%:
Selling price = 75.00 * (125/100) = 93.75
Now, let's find the profit by subtracting the original price from the selling price:
Profit = Selling price - Original price = 93.75 - 75.00 = 18.75
The profit is $18.75.