Jerry purchases a used sofa for $275. He cleans and reupholsters the sofa to make it look brand new. After all the improvements,
Jerry sells the sofa for 40% more than what he originally purchased it for. What was the profit Jerry made after selling the sofa?
1 answer:
Answer:
<h2>$110</h2>
Step-by-step explanation:
Step one:
we are told that the cost of the sofa is $275
also, he sells it for 40% more of the cost price
let us find 40% of $275
=40/100*275
=0.4*275
=110
=$110
Step two:
This means that the selling price is 275+110
=$385
profit = selling price- cost price
profit=385-275
profit=$110
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