Answer:
Explanation:
• The ,cost price ,of the pair of skis = $700
,• The ,selling price ,of the pair of skis = $1020
To calculate the percentage of profit, use the formula below:
[tex]\text{Percent of Profit=}\frac{Selling\text{ Price-Cost Price}}{\text{Selling Price}}\times\frac{100}{1}[/tex]Substitute the given values:
[tex]\text{Percent of Profit=}\frac{1020\text{-7}00}{\text{7}00}\times\frac{100}{1}\text{=}\frac{320}{\text{7}00}\times\frac{100}{1}=45.71\%[/tex]The percentage profit is % (correct to the nearest hundredth).
