Question

A school sport's team sold hats for $12 each hat. The team made a profit of $3 for each hat sold. What percent of the selling price of each hat is the profit?

Answer 1

Answer: 25%

Explanation:

Given: Selling price of each hat = $12

Profit on each hat = $3

To find: The percent of the selling price of each hat is the profit.

Ratio of profit to selling price =
`\frac3{12}=\frac14`

The required percentage = Ratio of profit to selling price x 100

`=\frac14*100=25\%`

The profit is 25% of the selling price.