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

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Solution

Given, Cost price of cooler $=$ Rs. $1200$
Overhead expenses $=$ Rs. $40$

Total cost $= 1200 + 40 =$ Rs. $1240$

Selling price of cooler $=$ Rs. $1550$

Gain $= 1550 - 1240 =$ Rs. $310$

Gain $% = \frac{G a i n}{C . P .} \times 100 = \frac{310}{1240} \times 100 = 25 %$

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