Question

Hailey Bell bought a flute for $150 and sold

Answer 1

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