A retailer has some candle sets that cost her $24. If she sells them for $30.00, find her rate of profit based on the cost.
A) 20%
B) 24%
C) 27%
D) 25%
E) none of these

Question

Quizplus · Accepted Answer

The profit is calculated using the formula:
Profit = Selling price - Cost price
Here, the selling price is $30 and the cost price is $24.
Therefore, the profit = $30 - $24 = $6
Now, the rate of profit is calculated using the formula:
Rate of profit = (Profit / Cost price) x 100
Putting the values, we get:
Rate of profit = (6 / 24) x 100 = 25%
Hence, the correct answer is D, 25%.

A Retailer Has Some Candle Sets That Cost Her $24