Practice!

Sample Problem

The cost of a kayak was $380, and it was sold for $450. What was the percentage profit to the nearest hundredth?

%

Solution

Profit = Selling Price – Cost = $450 – $380 = $70

The Percent Profit = Profit ÷ Cost = $70 ÷ $380 × 100% = 18.42%

So the answer is 18.42%.