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A business has a profit margin of 15%. If the total sales are $200,000, what is
A business has a profit margin of 15%. If the total sales are $200,000, what is the profit?
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A business has a profit margin of 15%. If the total sales are $200,000, what is the profit?
$25,000
$30,000
$35,000
$40,000
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15% of $200,000 is $30,000, which is the profit.
Questions & Step-by-step Solutions
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Q: A business has a profit margin of 15%. If the total sales are $200,000, what is the profit?
Solution:
15% of $200,000 is $30,000, which is the profit.
Steps: 7
Show Steps
Step 1: Understand that the profit margin is 15%. This means that for every dollar made in sales, 15 cents is profit.
Step 2: Know that total sales are $200,000.
Step 3: To find the profit, calculate 15% of $200,000.
Step 4: Convert 15% to a decimal. 15% as a decimal is 0.15.
Step 5: Multiply the total sales by the decimal: $200,000 * 0.15.
Step 6: Calculate the result: $200,000 * 0.15 = $30,000.
Step 7: The profit is $30,000.
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