The question is:
A merchant buys an old carpet for $25 dollars.He spends 15 dollars to have it returned to to good condition and then sells it for 50 dollars . What is percent profit of his total investment ?
The answer is 20% and i get 40% . What am i doing wrong ?
Here is how i solved it:
Buying price = $25
Selling price = 50
Profit = 25 - 15 = 10
%change = (Diff/Orig) x 100 = (10/25) x 100 = 40%