Elementary Algebra

Published by Cengage Learning
ISBN 10: 1285194055
ISBN 13: 978-1-28519-405-9

Chapter 4 - Proportions, Percents, and Solving Inequalities - 4.3 - More on Percents and Problem Solving - Problem Set 4.3: 47

Answer

The rate of profit based on the cost is 40%.

Work Step by Step

Let r represent the rate of profit. We can use the following guideline to solve this problem: Selling price = Cost + Profit So: 44.80 = 32 + r $\times$ 32 44.80 = 32 + 32r 12.80 = 32r Divide both sides by 32 0.4 = r Multiply this amount by 100% to convert it into percent. So, 0.4 $\times$ 100% = 40% The rate of profit based on the cost is 40%.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.