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| Math Central | Quandaries & Queries |
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Question from Jay, a student: If I buy an item for $3.00 and sell it for $6.00. What is my percentage of profit? |
Hi Jay,
When we use the term percentage we should really say percentage of some quantity. You bought the item for $3.00 and sold it for $6.00 so your profit is $6.00 - $3.00 = $3.00. Profit as a percentage is usually expressed as a percentage of the selling price. Your profit is $3.00 and the selling price is $6.00 so the profit is ($3.00/$6.00) × 100 = 50% of the selling price.
Penny
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