SOLUTION: Tom purchased an electric drill for $280 and later sold it for $350. What percentage profit did he make?

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Question 1040815: Tom purchased an electric drill for $280 and later sold it for $350. What percentage profit did he make?
Found 3 solutions by chen.aavaz, ikleyn, MathTherapy:
Answer by chen.aavaz(62) About Me  (Show Source):
You can put this solution on YOUR website!
His profit was $350-$280 = $70.
This means that at an initial value of $280 he made profit $70.
Since the amounts are proportional, we have
280%2F100+=+70%2Fx
280%2Ax=100%2A70
x=7000%2F280=25
Therefore he made 25% profit.

Answer by ikleyn(52788) About Me  (Show Source):
You can put this solution on YOUR website!
.
%28%28350-280%29%2F280%29%2A100 = %2870%2F280%29%2A100 = 0.25*100 = 25%.

The ratio 70%2F280 = 0.25 is multiplied by 100 to get percentage.

On percentage, see the lesson Percentage problems in this site and the lessons associated with it.


Answer by MathTherapy(10552) About Me  (Show Source):
You can put this solution on YOUR website!

Tom purchased an electric drill for $280 and later sold it for $350. What percentage profit did he make?
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