Question

A merchant paid $3 each for golfing hats that he sold for $4 each. He therefore earned a

Answer 1

Step-by-step explanation:

The cost increase is:

(4 - 3) / 3 × 100%

33%

The answer is none of these.

Answer 2

Answer:

Option E. None of these.

Step-by-step explanation:

A merchant paid $3 each for golfing hats and sold for $4 each. He earned a gross profit of $1 per hat.

We have to calculate the percent of increase in cost price Or percentage profit.

Percentage profit = $\frac{\text{(Selling price - Cost price)}}{\text{cost price}}(100)$

= $\frac{(4-3)}{3}.(100)$

= $\frac{100}{3}=33.33$%

Which not in any option.

Therefore, Option E. None of these is the answer.