Question

A shopkeeper makes a profit of 25% by selling a book for Rs 550. What is the C.P. and the actual profit?

Answer 1

Let's see what we have here. A shopkeeper sold Item X for a his selling price (SP).

Let SP = x

Since the question says that Profit is 25% of the selling price, we have:

Profit = 25% SP = 0.25x

Now, we already know that:

Profit = SP - Cost

This part is the catch. To find out how much Item X originally cost,

Cost = SP - Profit = x - 0.25x = 0.75x

Now that we know the original cost of Item X, we can easily calculate the Real profit % using this formula:

= (Profit/Cost)*100

= (0.25x/0.75x)*100

= 33%

And there you have it. Hope I explained it clear enough.

Answer 2

Answer:

Profit= 25/100 × 550= 137.5

C. P= 550-137.5=412.5

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