Question

a shopkeeper sold a chair for rupees 240 and make a profit of 12 %. what is the actual profit of the chair

Answer 1

sold for 240
profit 12%

so 240×12×240÷100
profit=28.8

Answer 2

Find the selling price percentage:

Profit = 12%

Selling Price = 100 + 12 = 112%

Find the profit:

Selling Price = 112%

Selling Price = Rs 240

112% = Rs 240

1% = 240 ÷ 112

1% = Rs 15/7

12% = 15/7 x 12 = Rs 25.71

Answer: The profit is Rs 25.71