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

$$\begin{gathered} \mathrm{Radio}\mathrm{costs}=\mathrm{Rs}.225 \\ \mathrm{Overhead}\mathrm{expenses}=\mathrm{Rs}.15 \\ \mathrm{C}.\mathrm{P}=\mathrm{Rs}.(225+15)=\mathrm{Rs}.240 \\ \mathrm{S}.\mathrm{P}=\mathrm{Rs}.300 \\ \mathrm{Profit}=\mathrm{SP}-\mathrm{CP} \\ =\mathrm{Rs}.(300-240) \\ =\mathrm{Rs}.60 \\ \mathrm{Profit}\%=\frac{\mathrm{Profit}}{\mathrm{C}.\mathrm{P}}\times 100 \\ =\frac{60}{240}\times 100 \\ =25\% \end{gathered}$$