Question

A publishing company’s cost for publishing a certain book was $4.85. The selling price of the book was $11.97. Find the percent of profit based on the cost.

Answer 1

The profit is given by

$\text{Profit = Selling price - Cost price}$

By substituting the given values, we have

$\begin{gathered} \text{Profit = 11.97-4.85} \\ \text{Profit =}7.12 \end{gathered}$

On the other hand, the profit percentage is give by

$\text{Profit percentage = }\frac{\text{ profit}}{\text{ cost price}}\times100$

Then, we have

$\begin{gathered} \text{ Profit percentage = }\frac{7.12}{4.85}\times100 \\ \text{ Profit percentage =}146.8\text{ \%} \end{gathered}$

Therefore, the answer is: 146.8 %