If a computer costs an electronics dealer $300, and she sells them for $800, what is her rate of profit based on the selling price?
I know the answer is 62.5% but could someone show me how to get this answer , thanks
proftt rate (as a fraction of selling price) = (800-300)/800)
= 5/8 = 62.5%
Mitsuko salary for next year is $44,940. This represents a 7% increase over this year's salary. Find mitsuko present salary
To find the rate of profit based on the selling price, you need to calculate the profit made and then express it as a percentage of the selling price. Here's how you would do it:
1. Calculate the profit made by subtracting the cost from the selling price:
Profit = Selling Price - Cost Price
In this case, the selling price is $800, and the cost price is $300:
Profit = $800 - $300 = $500
2. Next, calculate the rate of profit based on the selling price by expressing the profit as a percentage of the selling price:
Rate of Profit (%) = (Profit / Selling Price) * 100
Plugging in the values, we get:
Rate of Profit (%) = ($500 / $800) * 100 ≈ 62.5%
So, the rate of profit based on the selling price is approximately 62.5%.