To find the percentage of the serving price that is accounted for by the cost 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 = $0.85
- Serving price = $5.75
Now, substitute these values into the formula:
\[ \text{Percentage} = \left( \frac{0.85}{5.75} \right) \times 100 \]
Calculating the fraction:
\[ \frac{0.85}{5.75} \approx 0.147826 \]
Now, multiply by 100 to convert to percentage:
\[ \text{Percentage} \approx 0.147826 \times 100 \approx 14.7826 \]
Rounding to the nearest tenth of a percent:
\[ \text{Percentage} \approx 14.8% \]
Therefore, the cost of raw ingredients is approximately 14.8% of the serving price.
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