A person bought a laptop for $800 and sold it for $960. What is the percentage p

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Question: A person bought a laptop for $800 and sold it for $960. What is the percentage profit?

Options:

Correct Answer: 20%

Solution:

Profit = selling price - cost price = 960 - 800 = 160. Percentage profit = (profit/cost price) * 100 = (160/800) * 100 = 20%.

A person bought a laptop for $800 and sold it for $960. What is the percentage profit?

A person bought a laptop for $800 and sold it for $960. What is the percentage profit?

Step 1: Identify the cost price of the laptop, which is $800.
Step 2: Identify the selling price of the laptop, which is $960.
Step 3: Calculate the profit by subtracting the cost price from the selling price: 960 - 800.
Step 4: The profit is $160.
Step 5: To find the percentage profit, divide the profit by the cost price: 160 / 800.
Step 6: Calculate the result of the division, which is 0.2.
Step 7: To convert this to a percentage, multiply by 100: 0.2 * 100.
Step 8: The percentage profit is 20%.

Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price.
Percentage Calculation – Knowing how to express profit as a percentage of the cost price.