The Mansion sold the item for $12.50 if 40% of the selling price was profit, then the amount of profit would be $5.
What is profit?
Profit is the term that is mainly used in the business. It is the amount that is charged by the seller to its customers in access of the cost price. This can be calculated on a certain percentage.
Computation of profit:
Given that the sales price is $12.50,
Profit percentage = 40%
Then,
The amount of profit would be:
Profit = Sales Price * Profit Percentage.
Profit = $12.50×40%
Profit = $5.
Therefore, merchant earn in profit of $5.
Learn more about the profit, refer to:
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