Elementary Algebra

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

Chapter 4 - Proportions, Percents, and Solving Inequalities - Chapter 4 Review Problem Set - Page 184: 54


Her rate of profit is 80%

Work Step by Step

We can use the following guideline to solve this problem: Rate of profit = $\frac{Selling\ price -\ Cost}{Cost}$ $\times$ 100% Selling price = 43.20 Cost = 24 Substituting these values into the formula gives: Rate of profit = $\frac{43.20-24}{24}$ $\times$ 100% Rate of profit = $\frac{19.2}{24}$ $\times$ 100% Rate of profit = 0.8 $\times$ 100% Rate of profit = 80%
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