SOLUTION: If a computer costs an electronics dealer $300, and she sells them for $800, what is her rate of profit based on the selling price? I need help setting the equation up. Thankyou

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: If a computer costs an electronics dealer $300, and she sells them for $800, what is her rate of profit based on the selling price? I need help setting the equation up. Thankyou      Log On


   

Question 690649: If a computer costs an electronics dealer $300, and she sells them for $800, what is her rate of profit based on the selling price?
I need help setting the equation up. Thankyou.
Answer by fcabanski(1391) About Me  (Show Source):
You can put this solution on YOUR website!
The profit is the selling price less the cost = 800-300=500. The rate of profit is profit/sell price x 100.


In this case it's 500/800 x 100 = 62.5%. In words 62.5% of the selling price is profit. In the real world there would be other costs such as sales tax.

Hope the solution helped. Sometimes you need more than a solution. Contact fcabanski@hotmail.com for online, private tutoring, or personalized problem solving (quick for groups of problems.)