Question

A retailer buys a radio for Rs. 225. His overhead expenses are Rs. 15. If he sells the radio for Rs. 300, determine his profit percent.

Answer 1

Cost of radio = Rs. 225
Over head expenses = Rs. 15
$\therefore$ Total C.P of the ratio = Rs. 225 + 15
=Rs. 240
S.P of radio = Rs. 300
$\therefore$ Gain = S.P - C.P = Rs. 300 - Rs. 240 = Rs. 60
$Gain\%=\frac{Gain\times 100}{C.P}=\frac{60\times 100}{240}=25\%$