larry bought a bicycle for $1500 and sold it to make a profit of $300. Express the profit as a percent of the cost price
300/1500 = 1/5 = 2%
$300/$1500 = 0.2, or 20%
Indira -- which answer looks logical to you?
That pesky zero key! Grrr
To express the profit as a percentage of the cost price, you need to calculate the percentage. The formula to calculate the percentage is:
Percentage = (Profit / Cost price) * 100
In this case, the profit is $300 and the cost price is $1500. Plugging these values into the formula, we get:
Percentage = (300 / 1500) * 100
Simplifying the equation, we have:
Percentage = 0.2 * 100
Percentage = 20
Therefore, the profit of $300 is 20% of the cost price.