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A merchant made a profit of $5 on the sale of a sweater that

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A merchant made a profit of $5 on the sale of a sweater that [#permalink] New post 05 Jan 2017, 02:09
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A merchant made a profit of $5 on the sale of a sweater that cost the merchant $15. What is the profit expressed as % of the merchant's cost ?

Give your answer to the nearest whole %

[Reveal] Spoiler: OA
33%

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Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink] New post 08 Jan 2017, 13:33
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Re: A merchant made a profit of $5 on the sale of a sweater that [#permalink] New post 09 Jan 2017, 13:48
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Explanation

The percent profit is (\frac{5}{15}) \times 100, which equals 33.333.., which equals 33.33333... . percent, which is 33%, to the nearest whole percent. Thus, the correct answer is 33% (or equivalent).


If you use the calculator and the Transfer Display button, the number that will be transferred to the answer box is 33.333333, which is incorrect since it is not given to the nearest whole percent. You will need to adjust the number in the answer box by deleting all of the digits to the right of the decimal point (using the Backspace key).

Also, since you are asked to give the answer as a percent, the decimal equivalent of 33 percent, which is 0.33, is incorrect. The percent symbol next to the answer box indicates that the form of the answer must be a percent. Entering 0.33 in the box would give the erroneous answer 0.33%.

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Re: A merchant made a profit of $5 on the sale of a sweater that   [#permalink] 09 Jan 2017, 13:48
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