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.

• A. $35\%$
• B. $55\%$
• C. $25\%$
• D. None of these

Answer 1

The correct option is C $25\%$

cost price $=Rs.1200+40$

$=1240Rs$

profit=$x\%$

$1240+\frac{x}{100}\times 1240=1550$

$1240\left(\frac{x+100}{100}\right)=1550$

$x+100=\frac{1550\times 100}{1240}$

$x+100=125$

$\Rightarrow x=25\%$