You have spent $4,000 on liquor for your bar. Your bar sales have been $24,000. What is your cost of sales for liquor, expressed as a percentage?

a. 12%

b. 15%

c. 17%

d. 19%

17%

Explanation:

Given parameters:

Cost price of liquor = $4000

Total sale = $24000

Unknown:

Percentage cost of sale for liquor = ?

Solution:

To find the percentage cost of sale;

       %Cost of sale of liquor =   x 100

Input the variables;

       %Cost of sale of liquor =  x 100 = 16.67% = 17%

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