Question

6. A storekeeper sold a wrist watch for $660, including a sales tax of 10%.If the cost price of the watch is $500, what is the percentage profit for shopkeeper?

Answer 1

sp=660
after 10% sale tax sp will be
$sp = \frac{660 \times 110}{100} = 726 \\ cp = 500 \\ profit = sp - cp \\ p = 726 - 500 \\ p = 226 \\ profit\% = \frac{p \times 100}{cp} \\ p\% = \frac{226 \times 100}{500} \\ p\% = 45.20$

Answer 2

Answer:

Profit percentage is 19% .

Step-by-step explanation:

As given

A storekeeper sold a wrist watch for $660, including a sales tax of 10%.

10% is written in the decimal form.

$= \frac{10}{100}$

= 0.10

Sales tax price = 0.10 × 660

                        = $66

Selling price of the wrist watch = Selling price of the wrist watch including sales tax - Sales price

Putting all the value in the above

Selling price of the wrist watch = $660 - $66

                                                   = $595

Now find out the profit percentage of the shopkeeper .

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

Where Profit = Selling price - Cost price

Thus

Profit = $595 - $500

         = $95

Put in the profit percentage formula

$Profit\ percentage = \frac{95\times 100}{500}$

$Profit\ percentage = \frac{9500}{500}$

Profit percentage = 19%

Therefore the profit percentage is 19% .