Question

Elsie bought a video game for $85.00. If the store charges 170% of its cost for the game, how much is the store’s profit?

Answer 1

Let the store's cost be C. If the store charges 170% of cost, then 1.7C = \$85.00, so C = \$85.00 / 1.7 = \$50.00. The profit is selling price minus cost: \$85.00 - \$50.00 = \$35.00.