Question

The cost of a stove to a store owner was $500, and she sold the stove for $1080. What was her percent of profit based on cost?

Answer 1

Answer:

116%

Step-by-step explanation:

Cost Price (C. P.) = $500

Selling Price (S. P.) = $1080

Profit = SP - CP = $1080 - $500 = $580

Profit percent

$= \frac{Profit}{CP} \times 100 \\ \\ = \frac{580}{500} \times 100 \\ \\ = \frac{580}{5} \\ \\ = 116 \%$