Question

1. Dorothy Haley bought a property for 25% less than the list price and resold it for the list price.

What is the percent of profit?

Answer 1

Percentage profit

= 33.33%

Explanation:

Let the list price be called X

Dorothy Haley bought it for 25% less than the list price = x-(0.25x)

= 0.75x

But then sokd it back at the list price

=x

Profit = selling price- cost price

Percentage profit

=( profit/cost price) * 100

Profit= x-0.75x= 0.25x

Percentage profit=( 0.25x/0.75x)*100

Percentage profit = 1/3 * 100

= 33.33%