Question

Amir owns and operates a clothing store. He sells a shirt for $59.95. He Originally bought

the shirt for $40.50. What is the buying price as a percent of his selling price?

Answer 1

32.45%

Explanation:

To find the buying price as a percent of the selling price, we need to calculate the profit margin as a decimal first:

Profit margin = Selling price - Buying price

Profit margin = $59.95 - $40.50

Profit margin = $19.45

Now we can find the percent by dividing the profit margin by the selling price and multiplying by 100:

Percent = (Profit margin ÷ Selling price) x 100

Percent = ($19.45 / $59.95) x 100

Percent = 32.45%

Therefore, the buying price is 32.45% of the selling price.