Question

A shopkeeper expects a gain of '$22.5\%$‘ on his Cost price. If in a week, his sale was of’$₹392$', what was his profit?

Answer 1

Given: Selling price (SP)$=₹392$
Profit percent $=22.5\%$

Step 1: Find the Cost Price:
$\Rightarrow$$\mathrm{Cost}\mathrm{Price}\left(\mathrm{CP}\right)=\frac{100}{100+\mathrm{Gain}\%}\times \mathrm{SP}$

$=\frac{100}{100+22.5}\times 392$

$=\frac{100}{122.5}\times 392$

$=₹320$

Step 2: Find the Profit:

$\Rightarrow \mathrm{Profit}=\mathrm{Selling}\mathrm{Price}\left(\mathrm{SP}\right)-\mathrm{Cost}\mathrm{Price}\left(\mathrm{CP}\right)$

$=392-320$

$=$$₹72$

Therefore, he gains a profit of $₹72$