Question

2. If the cost price is 80% of the selling price, what is the profit per cent?
(1 Point)
259​

Answer 1

u will get the profit of 20% because when u sold it in 80% then the remaining 20% is the profit

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

We can solve it in two ways,

Method 1 (Intuition)

If a product had a cost price of 80% of its selling price, it means that,

S.P > C.P

which means it will be a Profit.

Now,

If 80% of the S.P is the C.P, then definitely the extra money will be the Profit.

Hence,

Profit = 100% - 80%

Profit % = 20%

But this method is only from a common man perspective, we must prove that it is 20%, Hence the above calculations are not viable to be written in an exam.

Method 2 (Required calculations) (Should be used in exams)

Let the S.P be x,

Then, according to the Question,

C.P = 80% of S.P

C.P = (80/100)x

C.P = (8/10)x

C.P = (4/5)x

Now,

Profit = S.P - C.P

P = x - (4/5)x

P = (5/5)x - (4/5)x

P = ((5 - 4)/5)x

P = (1/5)x

Then,

Profit % = (Profit/C.P) × 100

P % = [(1/5)x/x] × 100

Cancelling the common factor x,

P % = (1/5) × 100

P % = 100/5

P % = 20 %