SOLUTION: How do I work out percentages for things like. This. If I made an item and it cost £50 but then sell it for £80 what profit percentage is it. Many thanks. Just need basic method of

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: How do I work out percentages for things like. This. If I made an item and it cost £50 but then sell it for £80 what profit percentage is it. Many thanks. Just need basic method of      Log On


   

Question 940781: How do I work out percentages for things like. This. If I made an item and it cost £50 but then sell it for £80 what profit percentage is it. Many thanks. Just need basic method of how to work it out on a calculator. Vinnyjames1965@hotmail.co.uk
Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!

an item and it cost £50
then sell it for £80
profit percentage is x% of £50 and you add it to £50 to get £80
x% of £50%7D%7D+is+%7B%7B%7B%28x%2Fcross%28100%292%29cross%2850%29=x%281%2F2%29=0.5x of £50%7D%7D%0D%0A%0D%0Athen+write+your+equation%3A%0D%0A%0D%0A%7B%7B%7B0.5x=80...solve for x
0.5x=80-50
0.5x=30
x=30%2F0.5
x=300%2F5
x=60%
so, 60% of £50 is £50%2A0.60=30 profit
and £50%2B30=80