Answer:
Option E. None of these.
Step-by-step explanation:
A merchant paid $3 each for golfing hats and sold for $4 each. He earned a gross profit of $1 per hat.
We have to calculate the percent of increase in cost price Or percentage profit.
Percentage profit = [tex]\frac{\text{(Selling price - Cost price)}}{\text{cost price}}(100)[/tex]
= [tex]\frac{(4-3)}{3}.(100)[/tex]
= [tex]\frac{100}{3}=33.33[/tex]%
Which not in any option.
Therefore, Option E. None of these is the answer.
