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If a person buys a watch for $80 and sells it for $100, what is the profit in do

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Question: If a person buys a watch for $80 and sells it for $100, what is the profit in dollars?

Options:

  1. $15
  2. $20
  3. $25
  4. $30

Correct Answer: $20

Solution: 

Profit = Selling Price - Cost Price = 100 - 80 = 20.

If a person buys a watch for $80 and sells it for $100, what is the profit in do

Practice Questions

Q1
If a person buys a watch for $80 and sells it for $100, what is the profit in dollars?
  1. $15
  2. $20
  3. $25
  4. $30

Questions & Step-by-Step Solutions

If a person buys a watch for $80 and sells it for $100, what is the profit in dollars?
  • Step 1: Identify the cost price of the watch. The cost price is $80.
  • Step 2: Identify the selling price of the watch. The selling price is $100.
  • Step 3: Use the profit formula: Profit = Selling Price - Cost Price.
  • Step 4: Substitute the values into the formula: Profit = 100 - 80.
  • Step 5: Calculate the profit: 100 - 80 equals 20.
  • Step 6: Conclude that the profit is $20.
  • Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price.
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