Answer:
To calculate Mrs. Griffiths's percentage profit, we use the formula:
Percentage Profit = ((Selling Price - Buying Price) / Buying Price) * 100%
Given:
Buying Price = £1400
Selling Price = £1850
Percentage Profit = ((1850 - 1400) / 1400) * 100%
= (450 / 1400) * 100%
≈ 0.3214 * 100%
≈ 32.14%
So, Mrs. Griffiths made approximately a 32.14% profit.
