Find out the % profit

[Rook]

The house was bought for $500 and sold for $ 700 , find the percentage profited that they got ?

I just can't get my head around to find the% profit.

Thanks for any help

[Ghideon]

What have you tried so far? If it is the definition you struggle with this may help: profit percentage is calculated with cost price taken as base

https://en.m.wikipedia.org/wiki/Profit_margin

Edited May 29, 2019 by Ghideon
Image

[Rook]

Is it 40% 

 

[Ghideon]

31 minutes ago, Rook said:

Is it 40%

How did you calculate it? 

It looks correct.

[iNow]

You take the difference btw the two values then divide that result by the original value. This will give you a decimal and you multiply by 100% to get percentage. 

If if I buy a bike for $10 then sell it for $12, I made $2 in profit.

 Divide this by what I paid for the bike... 2/10 and this equals 0.20.

Multiply by 100... 0.20 x 100 to get 20% as the profit percentage.

Now, do the same thing with your numbers

[Dickson]

Profit = $700-$500 =$200

Therefore %profit = (profit/original price) x 100%

                               =(200/500) x 100%

[iNow]

Correct, except it’s x100, not x100%

(I accidentally trumped a similar error in my post)