A retailer bought a watch for $120 and sold it for $150. What is the profit perc

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Question: A retailer bought a watch for $120 and sold it for $150. What is the profit percentage?

Options:

Correct Answer: 25%

Solution:

Profit = Selling Price - Cost Price = $150 - $120 = $30. Profit Percentage = (Profit/Cost Price) * 100 = ($30/$120) * 100 = 25%.

A retailer bought a watch for $120 and sold it for $150. What is the profit percentage?

A retailer bought a watch for $120 and sold it for $150. What is the profit percentage?

Step 1: Identify the Cost Price (CP) of the watch, which is $120.
Step 2: Identify the Selling Price (SP) of the watch, which is $150.
Step 3: Calculate the Profit by subtracting the Cost Price from the Selling Price: Profit = SP - CP = $150 - $120.
Step 4: Calculate the Profit, which is $30.
Step 5: To find the Profit Percentage, use the formula: Profit Percentage = (Profit / Cost Price) * 100.
Step 6: Substitute the values into the formula: Profit Percentage = ($30 / $120) * 100.
Step 7: Calculate the Profit Percentage: ($30 / $120) = 0.25, then multiply by 100 to get 25%.
Step 8: The Profit Percentage is 25%.

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.