A retailer buys a watch for $150 and sells it for $180. What is the profit perce

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Question: A retailer buys a watch for $150 and sells it for $180. What is the profit percentage?

Options:

Correct Answer: 20%

Solution:

Profit = Selling Price - Cost Price = 180 - 150 = 30. Profit Percentage = (30/150) * 100 = 20%.

A retailer buys a watch for $150 and sells it for $180. What is the profit percentage?

A retailer buys a watch for $150 and sells it for $180. What is the profit percentage?

Step 1: Identify the cost price of the watch, which is $150.
Step 2: Identify the selling price of the watch, which is $180.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling Price - Cost Price = 180 - 150.
Step 4: Perform the subtraction: 180 - 150 = 30. So, the profit is $30.
Step 5: To find the profit percentage, divide the profit by the cost price: Profit Percentage = Profit / Cost Price.
Step 6: Substitute the values: Profit Percentage = 30 / 150.
Step 7: Perform the division: 30 divided by 150 equals 0.2.
Step 8: To convert this to a percentage, multiply by 100: 0.2 * 100 = 20%.
Step 9: Therefore, the profit percentage is 20%.

Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price.
Profit Percentage – Calculating profit percentage using the formula (Profit / Cost Price) * 100.