Investment A: A profit of $380$380 on a $3800$3800 investment.Investment B: A profit of $290$290 on a $3900$3900 investment.Step 2 of 3 : Calculate the percentage of profit for Investment B. Round your answer to the nearest hundredth of a percent.
Question
Investment A: A profit of 380 on a 3800 investment.Investment B: A profit of 290 on a 3900 investment.Step 2 of 3 : Calculate the percentage of profit for Investment B. Round your answer to the nearest hundredth of a percent.
Solution
To calculate the percentage of profit for Investment B, you need to divide the profit by the initial investment and then multiply by 100 to get the percentage.
Here's how you do it:
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Divide the profit (3900). This gives you 0.07435897435897436.
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Multiply this number by 100 to convert it to a percentage. This gives you 7.435897435897436.
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Round this number to the nearest hundredth of a percent. This gives you 7.44%.
So, the percentage of profit for Investment B is approximately 7.44%.
Similar Questions
Calculate the percentage of profit for Investment B. Round your answer to the nearest hundredth of a percent.
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