A store paid $350 for a couch and sold it for $550. What
percentage of the selling price was profit?<\/p>\n\n\n\n
The Correct Answer and Explanation is :<\/strong><\/mark><\/p>\n\n\n\n To determine what percentage of the selling price was profit, we can use the following formula:<\/p>\n\n\n\n [ Step 1: Calculate Profit<\/strong><\/p>\n\n\n\n First, we need to find the profit. Profit is calculated as the difference between the selling price and the cost price.<\/p>\n\n\n\n [ Step 2: Calculate Percentage of Profit<\/strong><\/p>\n\n\n\n Next, we can substitute the profit and the selling price into our formula:<\/p>\n\n\n\n [ Now we perform the division:<\/p>\n\n\n\n [ Now multiply by 100 to convert it into a percentage:<\/p>\n\n\n\n [ Thus, the percentage of the selling price that was profit is approximately 36.36%<\/strong>.<\/p>\n\n\n\n Explanation:<\/strong><\/p>\n\n\n\n In this scenario, the store purchased a couch for $350 and sold it for $550. The profit made from the sale is $200, which is calculated by subtracting the cost price from the selling price.<\/p>\n\n\n\n To understand the profitability in a more relatable context, this percentage (36.36%) indicates that for every dollar earned from selling the couch, about 36 cents is profit.<\/p>\n\n\n\n Knowing the profit percentage is crucial for businesses as it helps assess their pricing strategies and operational efficiency. A higher percentage typically suggests that the business is managing costs effectively while maximizing revenue. In retail, understanding these metrics aids in decision-making regarding discounts, promotions, and inventory management, ensuring sustainable profitability in a competitive market.<\/p>\n","protected":false},"excerpt":{"rendered":" A store paid $350 for a couch and sold it for $550. Whatpercentage of the selling price was profit? The Correct Answer and Explanation is : To determine what percentage of the selling price was profit, we can use the following formula: [\\text{Percentage of Profit} = \\left( \\frac{\\text{Profit}}{\\text{Selling Price}} \\right) \\times 100] Step 1: Calculate […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-156117","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/156117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=156117"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/156117\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=156117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=156117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=156117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\\text{Percentage of Profit} = \\left( \\frac{\\text{Profit}}{\\text{Selling Price}} \\right) \\times 100
]<\/p>\n\n\n\n
\\text{Profit} = \\text{Selling Price} – \\text{Cost Price}
]
[
\\text{Profit} = 550 – 350 = 200
]<\/p>\n\n\n\n
\\text{Percentage of Profit} = \\left( \\frac{200}{550} \\right) \\times 100
]<\/p>\n\n\n\n
\\frac{200}{550} \\approx 0.3636
]<\/p>\n\n\n\n
0.3636 \\times 100 \\approx 36.36
]<\/p>\n\n\n\n