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If a product is bought for $80 and sold for $100, what is the profit?

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Question: If a product is bought for $80 and sold for $100, what is the profit?

Options:

  1. $20
  2. $15
  3. $25
  4. $30

Correct Answer: $20

Solution: 

Profit = Selling Price - Cost Price = 100 - 80 = $20.

If a product is bought for $80 and sold for $100, what is the profit?

Practice Questions

Q1
If a product is bought for $80 and sold for $100, what is the profit?
  1. $20
  2. $15
  3. $25
  4. $30

Questions & Step-by-Step Solutions

If a product is bought for $80 and sold for $100, what is the profit?
  • Step 1: Identify the cost price of the product. In this case, the cost price is $80.
  • Step 2: Identify the selling price of the product. In this case, the selling price is $100.
  • Step 3: Use the profit formula, which is Profit = Selling Price - Cost Price.
  • Step 4: Substitute the values into the formula: Profit = 100 - 80.
  • Step 5: Calculate the result: 100 - 80 equals $20.
  • Step 6: Therefore, the profit is $20.
  • Profit Calculation – Understanding the formula for profit, which is the difference between selling price and cost price.
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