Question

A retailer buys a cooler for Rs 1200 and overhead expenses on it are Rs 40. If he sells the cooler for Rs 1550, determine his profit percent.

Answer 1

Answer:

$25\%$

Step-by-step explanation:

Solution:

We know the cost price of cooler = Rs 1200

Overhead expenses = Rs 40

Total cost = Rs 1200 + Rs 40 = Rs 1240

Selling price of cooler = Rs 1550

By using the formula,

Gain = selling price – cost price

= Rs 1550 – Rs1240

= Rs 310

By using the formula,

Gain % = (gain/cost price) × 100

= 310/1240 × 100

= 25%

Answer 2

Answer:

Cost price of cooler= Bought price+overhead expanses

Hence, CP=Rs. (1200+40)=Rs. 1240

SP=Rs. 1550.

Since, SP>CP, so retailer get profit.

Profit=SP−CP=1550−1240=Rs. 310

Profit(%)=

CP

profit

×100=

1240

310

×100=25%