Question

If a restaurant's gross receipts for one week total $12,000, of which $8,000 is profit, what percent of the gross receipts is profit?

Answer 1

EXPLANATION

Let's see the facts:

Gross receipts = $12,000

Profit = $8,000

The percentage can be obtained by applying the following relationship:

`\text{Profit\%}=\frac{profit}{\text{gross receipts}}\cdot100=(8,000)/(12,000)\cdot100=66.7\text{ \%}`

The answer is 66.7%