Question

question 3 of 6, step 3 of 3
the cost of a bicycle to a store owner was $800, and she sold the bicycle for $1050.
step 3 of 3: what was her percent of profit based on selling price? follow the problem - solving process and round your answer to the nearest hundredth of a percent.
answer
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Explanation:

Step1: Calculate the profit

Profit = Selling Price - Cost Price = \( 1050 - 800 = 250 \)

Step2: Calculate the profit percentage based on selling price

Profit percentage \( = \frac{\text{Profit}}{\text{Selling Price}} \times 100 = \frac{250}{1050} \times 100 \approx 23.81 \)

Answer:

23.81 (rounded to the nearest hundredth of a percent)