Answer:
Profit Percentage = 50%
Step-by-step explanation:
Cost price, CP = $80
Selling price, SP = $120
Profit = 120 - 80 = $40
[tex]Profit \ \%= \frac{SP - CP}{CP} \times 100 \\\\Profit \ \% = \frac{ profit}{CP} \times 100 = \frac{40}{80} \times 100 = \frac{1}{2} \times 100 = 50 \%[/tex]
