A shirt is bought for \( \$ 30 \) and sold for \( \$ 40 \). Find the profit percentage.

To calculate the profit percentage, first, find the profit made on the shirt. The profit is given by the selling price minus the cost price, which is \( \$ 40 - \$ 30 = \$ 10 \). To find the profit percentage, divide the profit by the cost price and then multiply by 100: \[ \text{Profit Percentage} = \left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100 = \left( \frac{10}{30} \right) \times 100 = 33.33\% \] And there you have it! The profit percentage is approximately \( 33.33\% \). Understanding profit percentage is essential for any budding entrepreneur. This figure not only helps in gauging the success of sales but also guides pricing strategies. For instance, determining a suitable mark-up on products ensures that businesses stay lucrative while remaining competitive!