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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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Answer» We know the cost price of cooler = Rs 1200 Overhead expenses = Rs 40 Total cost = Rs 1200 + Rs 40 = Rs 1240 Selling price of cooler = Rs 1550 By using the formula, Gain = selling price – cost price = Rs 1550 – Rs1240 = Rs 310 By using the formula, Gain % = (gain/cost price) × 100 = 310/1240 × 100 = 25% |
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