If the cost price of an article is $120 and the selling price is $150, what is t

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Question: If the cost price of an article is $120 and the selling price is $150, what is the profit percentage?

Options:

Correct Answer: 25%

Solution:

Profit = Selling Price - Cost Price = 150 - 120 = 30. Profit Percentage = (Profit/Cost Price) * 100 = (30/120) * 100 = 25%.

If the cost price of an article is $120 and the selling price is $150, what is the profit percentage?

If the cost price of an article is $120 and the selling price is $150, what is the profit percentage?

Step 1: Identify the cost price of the article, which is $120.
Step 2: Identify the selling price of the article, which is $150.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling Price - Cost Price = 150 - 120.
Step 4: Calculate the profit: Profit = 30.
Step 5: To find the profit percentage, use the formula: Profit Percentage = (Profit / Cost Price) * 100.
Step 6: Substitute the values into the formula: Profit Percentage = (30 / 120) * 100.
Step 7: Calculate the profit percentage: Profit Percentage = 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.