Question

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

HEY THERE.....
ur ans is here....

GIVEN ----
C.P. = $ 500
S.P. = $660 ( including10% sales tax)
Profit percent = ???

Sales tax = 10 %
sales price percent = 100+10%
sales price % = 110%
110% = $660
1% = 660/110
1% = $6

100×6 = $600

So the sales price excluding sales tax is $600 .

Profit =M.p. - s.p.
= 600 - 500
= $100

PROFIT PERCENT = profit/C.P.×100
= 100 /500 × 100
20%

So, the profit percent = 20%

HOPE IT HELPS U ☺☺

Answer 2

Find the price without sales tax:

Sales tax = 10%

Price = 100 + 10 = 110%

Price = $660

110% = $660

1% = 600 ÷ 110 = $6

100% = 6 x 100 = $600

⇒ Price with sales tax is $600

Find the profit:

Profit = Marked Price - Cost Price

Profit = 600 - 500 = $100

⇒ The profit is $100

Find the profit percentage:

Profit percentage = (profit/cost Price) x 100

Profit percentage = (100/500) x 100

Profit percentage = 20%

⇒ The profit is 20%

Answer: The profit is 20%