Questions: The owner of an antique store bought a painting for 150 and sold it for 180. What was the profit on the sale of the painting as a percent of the cost of the painting to the store owner? 20% 25% 30% 35%

The owner of an antique store bought a painting for 150 and sold it for 180. What was the profit on the sale of the painting as a percent of the cost of the painting to the store owner?
20%
25%
30%
35%

Transcript text: The owner of an antique store bought a painting for $\$ 150$ and sold it for $\$ 180$. What was the profit on the sale of the painting as a percent of the cost of the painting to the store owner? $20 \%$ $25 \%$ $30 \%$ $35 \%$

Solution

Solution Steps

Step 1: Calculate the Profit

The profit is the difference between the selling price and the cost price.
\[ \text{Profit} = \text{Selling Price} - \text{Cost Price} = \$180 - \$150 = \$30 \]

Step 2: Calculate the Profit Percentage

The profit percentage is calculated as the profit divided by the cost price, multiplied by 100.
\[ \text{Profit Percentage} = \left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100 = \left( \frac{\$30}{\$150} \right) \times 100 \]

Step 3: Simplify the Calculation

Simplify the fraction and calculate the percentage.
\[ \text{Profit Percentage} = \left( \frac{30}{150} \right) \times 100 = 0.2 \times 100 = 20\% \]