mcgibbonmichaela692 mcgibbonmichaela692
  • 23-06-2021
  • Mathematics
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5) A retailer bought a bag for $80 and sold it for $120. Calculate the percentage profit. *

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sreedevi102
sreedevi102 sreedevi102
  • 23-06-2021

Answer:

Profit Percentage = 50%

Step-by-step explanation:

Cost price, CP = $80

Selling price, SP = $120

Profit = 120 - 80 = $40

[tex]Profit \ \%= \frac{SP - CP}{CP} \times 100 \\\\Profit \ \% = \frac{ profit}{CP} \times 100 = \frac{40}{80} \times 100 = \frac{1}{2} \times 100 = 50 \%[/tex]

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