Question

Robin bought a chair for $\$150$ and sold it for $\$180$. Find the percentage profit earned.

• A. $25\%$
• B. $162/3\%$
• C. $201/3\%$
• D. $20\%$

Answer 1

The correct option is D $20\%$

Profit = Selling price - Cost price
$=180-150=\$30$

$\text{Profit percentage}=\frac{\text{Profit}}{\text{Cost price}}\times 100$

$=\frac{30}{150}\times 100$

$=20$

Note: Profit % or loss % , both are calculated over cost price only. $20\%$ profit means $\$20$ profit per $\$100$ cost price.