 |
| ||
| |||
|
| Math Central | Quandaries & Queries |
|
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
| ||
| ||
| ||
 |
 |
|
Math Central is supported by the University of Regina and The Pacific Institute for the Mathematical Sciences.