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A business has a profit margin of 15%. If the total sales are $200,000, what is

Practice Questions

Q1
A business has a profit margin of 15%. If the total sales are $200,000, what is the profit?
  1. $25,000
  2. $30,000
  3. $35,000
  4. $40,000

Questions & Step-by-Step Solutions

A business has a profit margin of 15%. If the total sales are $200,000, what is the profit?
  • Step 1: Understand that the profit margin is 15%. This means that for every dollar made in sales, 15 cents is profit.
  • Step 2: Know that total sales are $200,000.
  • Step 3: To find the profit, calculate 15% of $200,000.
  • Step 4: Convert 15% to a decimal. 15% as a decimal is 0.15.
  • Step 5: Multiply the total sales by the decimal: $200,000 * 0.15.
  • Step 6: Calculate the result: $200,000 * 0.15 = $30,000.
  • Step 7: The profit is $30,000.
  • Profit Margin Calculation – Understanding how to calculate profit from sales using the profit margin percentage.
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