Answer:
The profit is [tex]\frac{5}{6}[/tex] of the selling price
Step-by-step explanation:
We need to find what "fractional amount" is the profit of the Selling Price.
We can first see:
Profit = Selling Price - Cost
Given,
SP (Selling Price) = 1.50
Cost = 0.25
Profit = 1.50 - 0.25 = 1.25
Now,
Profit = 1.25
SP = 1.50
We find the fractional amount (what portion) of profit with respect to SP by dividing. Shown below:
1.25/1.50 = [tex]\frac{5}{6}[/tex]
