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If a company sells a product for $150 and the cost price is $100, what is the pr
If a company sells a product for $150 and the cost price is $100, what is the profit percentage?
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Practice Questions
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Q1
If a company sells a product for $150 and the cost price is $100, what is the profit percentage?
25%
50%
33.33%
20%
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Profit = Selling Price - Cost Price = 150 - 100 = 50. Profit Percentage = (Profit/Cost Price) * 100 = (50/100) * 100 = 50%.
Questions & Step-by-step Solutions
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Q: If a company sells a product for $150 and the cost price is $100, what is the profit percentage?
Solution:
Profit = Selling Price - Cost Price = 150 - 100 = 50. Profit Percentage = (Profit/Cost Price) * 100 = (50/100) * 100 = 50%.
Steps: 7
Show Steps
Step 1: Identify the Selling Price, which is $150.
Step 2: Identify the Cost Price, which is $100.
Step 3: Calculate the Profit by subtracting the Cost Price from the Selling Price: Profit = Selling Price - Cost Price = 150 - 100.
Step 4: The Profit is $50.
Step 5: Calculate the Profit Percentage using the formula: Profit Percentage = (Profit / Cost Price) * 100.
Step 6: Substitute the values: Profit Percentage = (50 / 100) * 100.
Step 7: Calculate the Profit Percentage, which equals 50%.
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