Question

You have spent $4,000 on liquor for your bar. Your bar sales have been $24,000. What is your cost of sales for liquor, expressed as a percentage?
a. 12%

b. 15%

c. 17%

d. 19%

Answer 1

Answer:

17%

Explanation:

Given parameters:

Cost price of liquor = $4000

Total sale = $24000

Unknown:

Percentage cost of sale for liquor = ?

Solution:

To find the percentage cost of sale;

       %Cost of sale of liquor = $\frac{cost price of liquor}{Total cost of sale }$   x 100

Input the variables;

       %Cost of sale of liquor = $\frac{4000}{24000}$  x 100 = 16.67% = 17%