Question

Elsie bought a video game for $85.00. If the store charges 170% of its cost for the game, how much is the store’s profit?

Option 1: $50.00
Option 2: $59.50
Option 3: $144.50
Option 4: $25.50

Answer 1

The store's profit on the video game Elsie bought for $85.00, when sold at 170% of its cost, is $59.50.

Step-by-step explanation:

Elsie bought a video game for $85.00, and the store charges 170% of its cost for the game. To find the store's profit, we calculate the selling price first by multiplying the cost by 170%, then subtracting the original cost from the selling price. Since 170% as a decimal is 1.70, we calculate $85.00 × 1.70 = $144.50 as the selling price. The store's profit is the selling price minus the cost, which is $144.50 - $85.00 = $59.50.