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

Respuesta :

So,

If she sold the bicycle for $1150 and the cost for her to buy it was $550, the profit can be found if we substract:

[tex]\begin{gathered} 1150-550 \\ =600 \end{gathered}[/tex]

Now, the percent of profit can be found if we divide the last result by the cost:

[tex]\frac{600}{550}=1.09[/tex]

Or, 1.09*100 = 109%.