Question

A retailer bought a tape recorder from a manufacturer for $50. He sold the recorder to a customer for $80. Calculate his percentage profit.​

Answer 1

60%

Explanation:

The profit made by the retailer is the difference between the selling price and the cost price of the tape recorder.

Profit = Selling Price - Cost Price

Profit = $80 - $50 = $30

The percentage profit can be calculated as:

Percentage Profit = (Profit / Cost Price) x 100

Percentage Profit = ($30 / $50) x 100 = 60%

Therefore, the retailer made a percentage profit of 60% on the tape recorder.