Fixing the profit rate

Q 2: What is the ruling of fixing profit?

A: It is permissible for a person to sell the commodities that he owns and possesses for a fixed profit or a fixed percentage, and to sell them with a non-fixed profit provided that both parties know the final price for which they agreed. (Part No. 13; Page No. 242)  May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.