Question

A retailer buys a cooler for rs1200and overhead expenses are rs40 if he sells this for rs1550. determine profit

Answer 1

price of cooler=1200
overheads=40
selling price=1550
total cp=1200+40=1240
$profit = sp - cp$
so profit=1550-1240=310
PROFIT=310

Answer 2

CP = 1200 + 40(expence) = 1240
SP = 1550
PROFIT = SP > CP
PROFIT = SP - CP
1550 - 1240 = 310/-
PROFIT %
$\frac{profit \: amount}{cp} \times 100 \\ \frac{310}{ 1240} \times 100 \\ = \frac{1}{4} \times 100 = 25\%profit$