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Question from Jaheem:

A shopkeeper buys an article for 80 cents and sold it for $\$1.$ Calculate the percentage profit.

Hi Jaheem,

I want to change the numbers and ask

A shopkeeper buys an article for 75 cents and sold it for $\$2..$ Calculate the percentage profit.

You first need to express both monitory values in the same units. I'm going to use dollars. Thus the problem becomes

A shopkeeper buys an article for $\$0.75$ and sold it for $\2.$ Calculate the percentage profit.

The profit on this sale is $\$2 - \$0.75 = \$1.25.$

Profit is usually expressed as a percentage of the selling price which in your case is $\$2.$ Hence the profit as a percentage of the selling price is

\[\frac{\$1.25}{\$2} \times 100 = 62.5\%.\]

I hope this helps,
Penny

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