A textbook costs a bookstore $52, and the store sells it for $65. Find the rate of profit based in the selling price.
____________%
cost price(c.p) = $52
selling price(s.p) = $65
profit = S.p-c.p = 13
let % of profit be x
so
x% of cp = 13
or (x/100)*52=13
or x=1300/52
so x = 25%
so rate of profit = 25%
13/65 is profit based on SELLING price
Comments
cost price(c.p) = $52
selling price(s.p) = $65
profit = S.p-c.p = 13
let % of profit be x
so
x% of cp = 13
or (x/100)*52=13
or x=1300/52
so x = 25%
so rate of profit = 25%
13/65 is profit based on SELLING price