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A retailer buys a watch for $120 and sells it at a profit of 15%. What is the se

Practice Questions

Q1
A retailer buys a watch for $120 and sells it at a profit of 15%. What is the selling price?
  1. $138
  2. $140
  3. $144
  4. $150

Questions & Step-by-Step Solutions

A retailer buys a watch for $120 and sells it at a profit of 15%. What is the selling price?
  • Step 1: Identify the cost price of the watch, which is $120.
  • Step 2: Calculate the profit percentage, which is 15%.
  • Step 3: Find 15% of the cost price. To do this, multiply $120 by 0.15 (which is 15% in decimal form).
  • Step 4: Calculate $120 * 0.15 = $18. This is the profit amount.
  • Step 5: Add the profit amount to the cost price to find the selling price. So, $120 + $18 = $138.
  • Step 6: The selling price of the watch is $138.
  • Profit Calculation – Understanding how to calculate profit as a percentage of the cost price and how to derive the selling price from it.
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