To determine what percentage of the serving price is made up of raw ingredients, you can use the following formula:
\[ \text{Percentage} = \left( \frac{\text{Cost of Ingredients}}{\text{Serving Price}} \right) \times 100 \]
Given:
- Cost of Ingredients = $0.83
- Serving Price = $5.75
Now, plug the values into the formula:
\[ \text{Percentage} = \left( \frac{0.83}{5.75} \right) \times 100 \]
Calculating the fraction:
\[ \frac{0.83}{5.75} \approx 0.1443 \]
Now multiply by 100 to convert it into a percentage:
\[ 0.1443 \times 100 \approx 14.43 \]
Rounding to the nearest tenth of a percent, we find:
\[ 14.4% \]
Thus, raw ingredients make up approximately 14.4% of the serving price.
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