Question

Jerry purchases a used sofa for $275. He cleans and reupholsters the sofa to make it look brand new. After all the improvements, Jerry sells the sofa for 40% more than what he originally purchased it for. What was the profit Jerry made after selling the sofa?

Answer 1

$110

Explanation:

Step one:

we are told that the cost of the sofa is $275

also, he sells it for 40% more of the cost price

let us find 40% of $275

=40/100*275

=0.4*275

=110

=$110

Step two:

This means that the selling price is 275+110

=$385

profit = selling price- cost price

profit=385-275

profit=$110