SOLUTION: A retailer has some skirts that cost her $24. If she sells them for $31.50, find ther rate of profit based on the cost.

A retailer has some skirts that cost her $24. If she sells them for $31.50, find ther rate of profit based on the cost.



what is asked in the problem?



    Find the rate of the profit based in the cost.



Given:

    A retailer has skirt that cost her $24

    She sells them for $31.50



Solution:

Let us find the profit after she sells a skirt

            $31.50 - 24 = $ 7.50



Then we are going to find how many percent is $7.50 based on the cost ($24)



     $7.50 is what percent of $24

      7.50 = x * 24

      7.50 = 24x

    0.3150 = x

      31.5% = x