Question

question 3 of 6 step 2 of 3 the total of a refrigerator to a store owner was $800, and she sold the refrigerator for $1040. step 2 of 3: what was her percent of profit based on cost? follow the problem-solving process and round your answer to the nearest hundredth if necessary.

Explanation:

Step 1: Identify the cost and selling price

The cost price (CP) of the refrigerator is $800, and the selling price (SP) is $1040.

Step 2: Calculate the profit

Profit (P) is calculated as \( P = SP - CP \). Substituting the values, we get \( P = 1040 - 800 = 240 \).

Step 3: Calculate the profit percentage

Profit percentage (\( \% \text{Profit} \)) is given by the formula \( \% \text{Profit} = \frac{P}{CP} \times 100 \). Substituting \( P = 240 \) and \( CP = 800 \), we have \( \% \text{Profit} = \frac{240}{800} \times 100 \).

Simplifying \( \frac{240}{800} = 0.3 \), and then \( 0.3 \times 100 = 30 \).

Answer:

The profit percentage is 30%.