Multiple choice

Mr. Williamson owns a pawn store. On Wednesday he bought a guitar from a customer at the price of \$120 and later sold the same guitar on Saturday for \$208. How much percent of profit did he earn by selling the guitar?

  1. 83.33%

  2. 73.33%

  3. 70%

  4. 43.33%

  5. 39%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Profit = 208 - 120 = 88. Profit % = (88 / 120) * 100 = 73.33%.

AI explanation

Using the basic profit percentage formula, we first find the profit by subtracting the cost price from the selling price, which is 208 minus 120, giving a profit of $88. The profit percentage is calculated by dividing the profit by the cost price and multiplying by 100. This gives (88 / 120) * 100, which equals 73.33%.

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