A man buys a shirt for $40 and sells it for $50. What is his profit percentage?

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Question: A man buys a shirt for $40 and sells it for $50. What is his profit percentage?

Options:

Correct Answer: 25%

Solution:

Profit = Selling Price - Cost Price = 50 - 40 = 10. Profit Percentage = (10/40) * 100 = 25%.

A man buys a shirt for $40 and sells it for $50. What is his profit percentage?

A man buys a shirt for $40 and sells it for $50. What is his profit percentage?

Step 1: Identify the cost price of the shirt, which is $40.
Step 2: Identify the selling price of the shirt, which is $50.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling Price - Cost Price = 50 - 40.
Step 4: The profit calculated is $10.
Step 5: To find the profit percentage, divide the profit by the cost price: Profit Percentage = Profit / Cost Price = 10 / 40.
Step 6: Convert the fraction to a percentage by multiplying by 100: Profit Percentage = (10 / 40) * 100.
Step 7: 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.