Question
4.1. A book is bought for \( R 50 \) and sold for \( R 80 \). What is the percentage profit?
Ask by Pope Long. in South Africa
Mar 08,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The percentage profit is 60%.
Solution
1. The book is bought for \( R50 \) and sold for \( R80 \). First, calculate the profit by subtracting the cost price from the selling price:
\[
\text{Profit} = R80 - R50 = R30.
\]
2. Next, compute the profit percentage using the formula:
\[
\text{Profit Percentage} = \left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100\%.
\]
Substitute the known values:
\[
\text{Profit Percentage} = \left( \frac{R30}{R50} \right) \times 100\%.
\]
3. Simplify the fraction:
\[
\frac{R30}{R50} = \frac{3}{5} = 0.6.
\]
4. Finally, convert to percentage:
\[
0.6 \times 100\% = 60\%.
\]
Thus, the percentage profit is \( 60\% \).
Answered by UpStudy AI and reviewed by a Professional Tutor
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Simplify this solution The Deep Dive
To calculate the percentage profit, first, you find the profit by subtracting the cost price from the selling price. Here, the profit is \( R 80 - R 50 = R 30 \). Then, you divide the profit by the cost price and multiply by 100 to get the percentage: \( \frac{R 30}{R 50} \times 100 = 60\% \). So, the percentage profit is a whopping 60%! Isn't it fascinating how simple math can reveal success in business? Many entrepreneurs rely on such calculations to understand their margins better, allowing them to make informed decisions about pricing strategies and inventory management. Knowing your profit percentage can be pivotal in scaling your business!
