Question

A retailer buys a cooler for Rs 1200 and overhead expenses on it are Rs 40. If he sells the cooler for Rs 1550, determine his profit percent.

Answer 1

$$\begin{gathered} \mathrm{Cooler}\mathrm{costs}=\mathrm{Rs}.1200 \\ \mathrm{Overhead}\mathrm{expenses}=\mathrm{Rs}.40 \\ \mathrm{C}.\mathrm{P}=\mathrm{Rs}.(1200+40)=\mathrm{Rs}.1240 \\ \mathrm{S}.\mathrm{P}=\mathrm{Rs}.1550 \\ \mathrm{Profit}=\mathrm{SP}-\mathrm{CP} \\ =\mathrm{Rs}.(1550-1240) \\ =\mathrm{Rs}.310 \\ \mathrm{Profit}\%=\frac{\mathrm{Profit}}{\mathrm{C}.\mathrm{P}}\times 100 \\ =\frac{310}{1240}\times 100 \\ =25\% \end{gathered}$$