Answer:
the profit percentage based on the cost & selling price is 16.67% and 14.29% respectively
Step-by-step explanation:
The computation of the profit percentage based on the cost & selling price is shown below:
The Profit percentage on the cost is
= (Sale price - cost price) ÷ (cost price) × 100
= ($175 - $150) ÷ ($150) × 100
= 16.67%
ANd, the profit percentage based on the selling price is
= (Sale price - cost price) ÷ (selling price) × 100
= ($175 - $150) ÷ ($175) × 100
= 14.29%
Hence, the profit percentage based on the cost & selling price is 16.67% and 14.29% respectively
