Multiple choice

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.

  1. $35\%$
  2. $55\%$
  3. $25\%$
  4. None of these

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Total CP = 1200 + 40 = 1240. Profit = 1550 - 1240 = 310. Profit percent = (310 / 1240) * 100 = (1/4) * 100 = 25%.

AI explanation

The total cost price is the sum of the purchase price and overhead expenses, totaling 1200 + 40 = 1240. The profit is calculated by subtracting the total cost from the selling price, giving 1550 - 1240 = 310. Using the profit percentage formula, (310 divided by 1240) times 100 equals 25 percent.