A man bought a watch for $200 and sold it for $250. What is the percentage profi

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Question: A man bought a watch for $200 and sold it for $250. What is the percentage profit?

Options:

Correct Answer: 25%

Solution:

Profit = Selling Price - Cost Price = 250 - 200 = 50. Percentage Profit = (Profit / Cost Price) * 100 = (50 / 200) * 100 = 25%.

A man bought a watch for $200 and sold it for $250. What is the percentage profit?

A man bought a watch for $200 and sold it for $250. What is the percentage profit?

Step 1: Identify the cost price of the watch. The cost price is $200.
Step 2: Identify the selling price of the watch. The selling price is $250.
Step 3: Calculate the profit by subtracting the cost price from the selling price. Profit = Selling Price - Cost Price = 250 - 200.
Step 4: Calculate the profit amount. Profit = 50.
Step 5: To find the percentage profit, divide the profit by the cost price. Percentage Profit = Profit / Cost Price.
Step 6: Substitute the values into the formula. Percentage Profit = 50 / 200.
Step 7: Calculate the division. 50 / 200 = 0.25.
Step 8: To convert the decimal to a percentage, multiply by 100. 0.25 * 100 = 25%.
Step 9: The percentage profit is 25%.

Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price.
Percentage Calculation – Knowing how to express profit as a percentage of the cost price.