Question

L.
Choose the correct option.
Bill buys a pair of shoes for $40 and sells them for $45. What is his profit percentage?​

Answer 1

Step-by-step explanation:

Net profit - (45-40 = 5$

Profit % = 5/40 × 100 = 12.5 %

Answer 2

Concept

Profit is simply the selling price (SP) minus the cost price (CP) of a product.

Profit percentage can be calculated as

Profit % = Profit/ CP *100

Given

Bill buys a pair of shoes for $40 and then sells them for $45.

Find

we need to find Bills profit percentage

Solution

We have

Cost price = $40

and Selling price = $45

The absolute profit will be

45 - 40 = 5

Thus, bill's profit in numerical terms is $5

Now, we need to find his profit percentage

Profit percentage = 5/40 *100

= 500/40

= 25/2

= 12.5

Thus, bills profit percentage is 12.5%

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