Question

The cost price of a phone is $240. Mr Lim sold the phone at $280. Express the profit or loss as a percentage of the cost price.

Answer 1

Answer:

85.71%

Step-by-step explanation:

profit%=240/280*100=85.71428571428571%

Answer 2

Answer:

profit % = 16.66%

Step-by-step explanation:

We have given here cost price = $240

and                              selling price = $280

so Net Profit = SP - CP

                        = $280 - $240

                          = $40

PROFIT % = PROFIT/CP x 100

                  = $40/$240 x 100

so profit % = 16.66%

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