A man buys a watch for $80 and sells it for $100. What is his profit percentage?

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Question: A man buys a watch for $80 and sells it for $100. What is his profit percentage?

Options:

Correct Answer: 25%

Solution:

Profit = Selling Price - Cost Price = 100 - 80 = $20. Profit Percentage = (Profit / Cost Price) × 100 = (20 / 80) × 100 = 25%.

A man buys a watch for $80 and sells it for $100. What is his profit percentage?

A man buys a watch for $80 and sells it for $100. What is his profit percentage?

Step 1: Identify the cost price of the watch, which is $80.
Step 2: Identify the selling price of the watch, which is $100.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling Price - Cost Price = 100 - 80.
Step 4: The profit is $20.
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 = (20 / 80) × 100.
Step 7: Calculate the profit percentage: (20 / 80) = 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.