John bought a painting for $600 and sold it for $648. Find the profit as a percentage of the cost.
Calculate the profit:
Profit = Sale Price - Purchase price
Profit = 648 - 600
Profit = 48
Calculate Profit percentage of cost =
Profit percentage of cost = 100% * Profit/cost
Profit percentage of cost = 100% * 48 / 600
Profit percentage of cost = 8%
Calculate the profit:
Profit = Sale Price - Purchase price
Profit = 648 - 600
Profit = 48
Calculate Profit percentage of cost =
Profit percentage of cost = 100% * Profit/cost
Profit percentage of cost = 100% * 48 / 600
Profit percentage of cost = 8%