Question

1. A shopkeeper buys some plates from a manufacturer for $10 each.
a) The shopkeeper sells a plate for $12 each. Calculate the profit as a percentage
of the cost price.​

Answer 1

Answer:

He made a net profit of 20%.

Step-by-step explanation:

Shopkeeper paid $10 each for the palates and sold them for $12 each.

Suppose he bought 'm' plates. Henceforth, total price he paid = $ 10m, and total money he received after selling them = $ 12m.

Now all in all, he made a profit of $(12m - 10m) = $2m. Thus,

The profit (in percentage) he made = (2m/10m)*100 = 200/10 = 20%.

Answer 2

Answer:

• Profit as a percentage of the Cost Price is 20%.

Step-by-step explanation:

Given that:

• A shopkeeper buys some plates from a manufacturer for $10 each.
• The shopkeeper sells the plates for $12 each.

To Find:

• Profit as a percentage of the cost price.

Solution:

Cost Price (CP) = $10

Selling Price (SP) = $12

As,

• Selling Price > Cost Price

Therefore,

• Its a profit

Calculating profit:

As we know that:

• Profit = Selling Price - Cost Price

Substituting the values,

Profit = $(12 - 10)

= $2

Calculating profit%:

As we know that:

$\sf{\circ\;Profit\%=\left(\dfrac{Profit}{Cost\;Price}\times100\right)\%}$

Substituting the values,

$\sf{Profit\%=\left(\dfrac{2}{10}\times100\right)\%}$

Cutting the zeros,

$\sf{\longmapsto\left(\dfrac{2}{1\!\!\!\not{0}}\times10\!\!\!\not{0}\right)\%}$

$\sf{\longmapsto\left(2\times10\right)\%}$

Multiplying the numbers,

$\sf{\longmapsto20\%}$

Hence, profit% is 20%.