If a product costs $120 and is sold for $150, what is the profit percentage?

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Question: If a product costs $120 and is sold for $150, what is the profit percentage?

Options:

Correct Answer: 25%

Solution:

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

If a product costs $120 and is sold for $150, what is the profit percentage?

If a product costs $120 and is sold for $150, what is the profit percentage?

Step 1: Identify the cost price of the product, which is $120.
Step 2: Identify the selling price of the product, which is $150.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling Price - Cost Price = 150 - 120.
Step 4: The profit calculated is $30.
Step 5: To find the profit percentage, divide the profit by the cost price: Profit Percentage = Profit / Cost Price = 30 / 120.
Step 6: Calculate the division: 30 divided by 120 equals 0.25.
Step 7: To convert the decimal to a percentage, multiply by 100: 0.25 * 100 equals 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 by dividing profit by cost price and multiplying by 100.