Question
We are currently studying "earning money" for math. I read this sentence:
When a store claculates its profit as a percentage of its cost price the profit is always bigger than the profit calculated as a percentage of the selling price.
What does it mean and please give me an example.
Thank you :)
When a store claculates its profit as a percentage of its cost price the profit is always bigger than the profit calculated as a percentage of the selling price.
What does it mean and please give me an example.
Thank you :)
Answers
Steve
cost: $10
selling price: $15
profit: $5
profit/cost = 5/10 = 50%
profit/sellprice = 5/15 = 33%
assuming s > c
ps > pc
divide by sc:
p/c > p/s
selling price: $15
profit: $5
profit/cost = 5/10 = 50%
profit/sellprice = 5/15 = 33%
assuming s > c
ps > pc
divide by sc:
p/c > p/s