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.
Solution:
Cooler costs $=$ Rs. 1200
Overhead expenses $=$ Rs. 40
C.P $=$ Rs. $(1200+40)=$ Rs. 1240
S. $\mathrm{P}=$ Rs. 1550
Profit $=\mathrm{SP}-\mathrm{CP}$
$=$ Rs. $(1550-1240)$
$=$ Rs. 310
Profit $\%=\frac{\text { Profit }}{\text { C.P }} \times 100$
$=\frac{310}{1240} \times 100$
$=25 \%$
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