If a smartwatch is bought for $250 and sold for $300, what is the percentage pro

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Question: If a smartwatch is bought for $250 and sold for $300, what is the percentage profit?

Options:

Correct Answer: 25%

Solution:

Profit = Selling price - Cost price = 300 - 250 = 50. Percentage profit = (Profit / Cost price) * 100 = (50 / 250) * 100 = 20%.

If a smartwatch is bought for $250 and sold for $300, what is the percentage profit?

If a smartwatch is bought for $250 and sold for $300, what is the percentage profit?

Step 1: Identify the cost price of the smartwatch, which is $250.
Step 2: Identify the selling price of the smartwatch, which is $300.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling price - Cost price = 300 - 250.
Step 4: Calculate the profit amount: Profit = 50.
Step 5: To find the percentage profit, use the formula: Percentage profit = (Profit / Cost price) * 100.
Step 6: Substitute the values into the formula: Percentage profit = (50 / 250) * 100.
Step 7: Calculate the percentage profit: Percentage profit = 20%.

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.