Question

Gordon buys an antique teapot for £95.

He sells it on an Internet auction site for
£133.
Calculate his percentage profit.

Answer 1

so he got for £95 and sold it for £133, so hmmmm the difference is simply £38.

if we take 95 to be the 100%, what is 38 off of it in percentage?

`\begin{array}{ccll} \pounds&\%\\ \cline{1-2} 95 & 100\\ 38& x \end{array} \implies \cfrac{95}{38}=\cfrac{100}{x}\implies \cfrac{5}{2}=\cfrac{100}{x} \\\\\\ 5x=200\implies x=\cfrac{200}{5}\implies x=40`