Question

A retailer buys a cooler for Rs 1200 and overhead expenses on it are Rs 40. If the coller for Rs 1550, determine his profit percent.

Answer 1

Cost price of cooler = Rs.1200

Overhead expenses = Rs. 40

Total cost = 1200+40 = Rs. 1240

Selling price of cooler = Rs.1550

Gain = 1550 - 1240 = Rs.310

= Gain% = \(\frac{gain}{cost\,prize}\)x 100 = \(\frac{310}{1240}\)x 100 = 25%