Answer: 25%
Step-by-step explanation:
Given: Selling price of each hat = $12
Profit on each hat = $3
To find: The percent of the selling price of each hat is the profit.
Ratio of profit to selling price = [tex]\dfrac3{12}=\dfrac14[/tex]
The required percentage = Ratio of profit to selling price x 100
[tex]=\dfrac14\times100=25\%[/tex]
The profit is 25% of the selling price.
