A person buys a shirt for Rs. 800 and sells it for Rs. 960. What is the percenta

A person buys a shirt for Rs. 800 and sells it for Rs. 960. What is the percentage profit?

A person buys a shirt for Rs. 800 and sells it for Rs. 960. What is the percentage profit?

Step 1: Identify the cost price of the shirt, which is Rs. 800.
Step 2: Identify the selling price of the shirt, which is Rs. 960.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling Price - Cost Price = 960 - 800.
Step 4: Perform the subtraction: 960 - 800 = 160. So, the profit is Rs. 160.
Step 5: To find the percentage profit, use the formula: Percentage Profit = (Profit / Cost Price) * 100.
Step 6: Substitute the values into the formula: Percentage Profit = (160 / 800) * 100.
Step 7: Calculate the division: 160 / 800 = 0.2.
Step 8: Multiply by 100 to get the percentage: 0.2 * 100 = 20%.
Step 9: Conclude that the percentage profit is 20%.

Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price.
Percentage Calculation – Knowing how to express profit as a percentage of the cost price.