Question

Ella brought a ring for £3000. After 3 years, Ella sold the ring for £3375. Calculate her overall percentage profit

Answer 1

12.5%

The original price is £3000

The selling price is £3375

Calculate the profit gained.

(Sell price-Original price)

`= 3375-3000`

`= 375`

The profit is £375.

Calculate the profit percentage.

(Profit/Original price × 100)

`=375/3000 * 100`

`=1/8 * 100`

`=12.5\%`

Answer 2

bought = £3000

sold = £3375

profit = sold price - bought price

= £3375 - £3000

= £375

percentage of profit = (profit/bought price) × 100

=(£375/£3000) × 100

= 0.125 × 100

= 12.5%