Question

A textbook costs a bookstore $69, and the store sells it for $86.25. Find the rate of profit based on the selling price.
Answer should be in percent.
______%

Answer 1

The rate of profit based on the selling price is 20%.

Step-by-step explanation:

Given, Cost price  of a textbook = C.P = $ 69

Selling price of a textbook = S.P = $86.25

Profit = S.P - C.P

Profit = $86.25 - $69 = $17.25

The rate of profit based on selling price = $\frac{Profit}{S.P} \times 100$

The rate of profit based on selling price = $\frac{17.25}{86.25} \times 100$ = 20%

Hence, the rate of profit based on the selling price is 20%.