Question

The percentage profit on an MP3 player purchased for $320 and later sold for $350 is

Answer 1

The profit percentage in MP3 player is 9.37 %.

Explanation:

Cost price of MP3 player is $320

Selling price of MP3 player is $350.

Here, selling price is more than cost price. It means there is profit in MP3 player.

Profit = SP - CP

Profit = 350 - 320

Profit = $30

Profit percentage is given by :

`\% P =\frac{{SP}-{CP}}{{CP}}* 100\\\\\% P=\frac{30}{{320}}* 100\\\\\% P=9.37\%`

The profit percentage in MP3 player is 9.37 %.