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

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

Options:

Correct Answer: 25%

Solution:

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

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

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

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 profit percentage, divide the profit by the cost price. Profit Percentage = Profit / Cost Price = 50 / 200.
Step 6: Calculate the division. 50 / 200 = 0.25.
Step 7: Convert the decimal to a percentage by multiplying by 100. 0.25 × 100 = 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.