Rook Posted May 29, 2019 Share Posted May 29, 2019 The house was bought for $500 and sold for $ 700 , find the percentage profited that they got ? I just can't get my head around to find the% profit. Thanks for any help Link to comment Share on other sites More sharing options...
Ghideon Posted May 29, 2019 Share Posted May 29, 2019 (edited) What have you tried so far? If it is the definition you struggle with this may help: profit percentage is calculated with cost price taken as base https://en.m.wikipedia.org/wiki/Profit_margin Edited May 29, 2019 by Ghideon Image Link to comment Share on other sites More sharing options...
Rook Posted May 29, 2019 Author Share Posted May 29, 2019 Is it 40% Link to comment Share on other sites More sharing options...
Ghideon Posted May 29, 2019 Share Posted May 29, 2019 31 minutes ago, Rook said: Is it 40% How did you calculate it? It looks correct. Link to comment Share on other sites More sharing options...
iNow Posted May 29, 2019 Share Posted May 29, 2019 You take the difference btw the two values then divide that result by the original value. This will give you a decimal and you multiply by 100% to get percentage. If if I buy a bike for $10 then sell it for $12, I made $2 in profit. Divide this by what I paid for the bike... 2/10 and this equals 0.20. Multiply by 100... 0.20 x 100 to get 20% as the profit percentage. Now, do the same thing with your numbers Link to comment Share on other sites More sharing options...
Dickson Posted May 30, 2019 Share Posted May 30, 2019 Profit = $700-$500 =$200 Therefore %profit = (profit/original price) x 100% =(200/500) x 100% Link to comment Share on other sites More sharing options...
iNow Posted May 30, 2019 Share Posted May 30, 2019 Correct, except it’s x100, not x100% (I accidentally trumped a similar error in my post) Link to comment Share on other sites More sharing options...
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