Question

A customer left $20 for a meal that cost 16.95. How much was the tip? What percent of the cost of the meal is the amount of the tip?

Answer 1

`18%`

Explanation:

Well the tip is the percentage profit..

`%p = (sp - cp)/(cp) xx 100`

`%p = "percentage profit"`

`sp = "selling price"`

`cp = "cost price"`

`sp = $20`

`cp = $16.95`

Plugging in the values;

`%p = (20 - 16.95)/16.95 xx 100`

`%p = 3.05/16.95 xx 100`

`%p = 17.994`

`%p = 18`