Question

A merchant sells goods which cost $240 for $299. What percentage is his profit of the cost price?​

Answer 1

24.58%

Explanation:

Given that,

Initial cost = $240

Final cost = $299

We need to find the percentage in his profit of the cost price.

Profit = Final cost - Initial cost

= $299 - $240

= $59

Percentage,

`\%=(59)/(240)*100\\\\=24.58\%`

So, the required percentage is equal to 24.58%.