Answer
Her rate of profit is 80%
Work Step by Step
We can use the following guideline to solve this problem:
Rate of profit = $\frac{Selling\ price -\ Cost}{Cost}$ $\times$ 100%
Selling price = 43.20
Cost = 24
Substituting these values into the formula gives:
Rate of profit = $\frac{43.20-24}{24}$ $\times$ 100%
Rate of profit = $\frac{19.2}{24}$ $\times$ 100%
Rate of profit = 0.8 $\times$ 100%
Rate of profit = 80%
