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Question
A retailer buys a cooler for Rs 1200 and overhead expenses on it are Rs 40. If he sells the cooler for Rs 1550, determine his profit percent.
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Solution
\[\text { Cooler costs = Rs } . 1200\]
\[\text { Overhead expenses = Rs } . 40\]
\[\text { C . P = Rs }. (1200 + 40) = Rs . 1240\]
\[\text { S . P = Rs } . 1550\]
\[\text { Profit = SP - CP }\]
\[ = Rs . (1550 - 1240)\]
\[ = Rs . 310\]
\[\text { Profit % }= \frac{Profit}{C . P} \times 100\]
\[ = \frac{310}{1240} \times 100\]
\[ = 25 \]%
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