Question

A retailer buys a cooler for Rs.1200 and overhead expenses are on it are Rs.40. if he sells the cooler for Rs.1550, Determine the profit percentage.

Answer 1

Cooler cost = Rs.1200
Overhead cost = Rs.40
Total cost = Rs. (1200 + 40) = Rs.1240
S.P of the cooler = 1550
Profit = S.P - C.P
= Rs. (1550 – 1240)
= Rs. 310
$\text{Profit}\left(\%\right)=\frac{\text{profit}\times 100}{\text{CP}}$
$=\frac{310\times 100}{1240}$
$=25\%$