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The cost of a bicycle to a store owner was $550, and she sold the bicycle for $1150.Step 2 of 3: What was her percent of profit based on cost? Follow the problem-solving process and round your answer to the nearesthundredth if necessary.

Respuesta :

Percent of profit ( Pp ) based on the cost:

[tex]Pp=\frac{profit}{\cos t}\cdot100[/tex]

where the profit in our case equals:

[tex]\text{profit}=$1150$-550=600[/tex]

and the cost equals $550.

Thus...

[tex]Pp=\frac{600}{550}\cdot100[/tex][tex]Pp=109.09[/tex]

Answer: 109.09%

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