An appliance dealer bought a refrigerator for $550 and sold it for $687.50. What was the percent of the profit based on the cost?
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Answer:
Given:
Cost price of refrigerator (C.P)= $550
Selling price of refrigerator (S.P)=$687.50
Profit = S.P - C.P
=687.50 - 550
=$137.50
percent of
profit = 137.50/550 × 100
=0.25 × 100
=25 %
Step-by-step explanation:
I hope you will understand
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