Question

a shop keeper estimates his profits as 20% of themsellingprice , what is his profit percent

Answer 1

Answer :

Let selling price = Rs 100

So ,

Cost price = 100 - 20% of 100 = 100 - $\frac{20\times 100}{100}$ = 100 - 20 = Rs 80

Then , Total profit = 100 - 80 = Rs 20

Profit percentage = $\left[\frac{20\times 100}{80}\right]\%=\left(\frac{100}{4}\right)\%$ = 25% ( Ans )