A clothing store acquired an item at

A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

3 Explanations

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Felipe Levi Gurgel

Knowing profit is y-x/x we can get the 2 information than:

y-x/x is equal to y/x - x/x = 5/4 - 1 = 1/4 = 25%

Is it correct to get like this?

Dec 9, 2016 • Comment

Sam Kinsman, Magoosh Tutor

That's right Felipe - keep up the good work! :D

Dec 9, 2016 • Reply

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Eric Peter

You can simplify the profit / x equation (y-x) / x to be (y/x) - (x/x) or (y/x) - 1...from that you can skip all of the math you did for step 2 in the video and see that statement 2 is sufficient.

Aug 2, 2014 • Comment

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Mike McGarry, Magoosh Tutor