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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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