Percentages, SM-Bank 085

Mavis bought an original artwork as an investment. She paid \($15\ 400\) in 2018 and sold it in 2023 for \($24\ 024\).

Calculate the profit that Mavis made on her artwork. (1 mark)

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Calculate the percentage profit based on the original price. (2 marks)

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a. \($8624\)

b. \(56\text{%}\)

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a. \(\text{Profit}\)	\(=24\ 024-15\ 400\)
	\(=$8624\)

b. \(\text{Percentage Profit}\)	\(= \dfrac{\text{Profit}}{\text{Original price}}\times 100\text{%}\)
	\(=\dfrac{8624}{15\ 400}\times 100\text{%}\)
	\(=56\text{%}\)