If a trader makes a profit of 25% on an item bought for $80, what is the selling

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Question: If a trader makes a profit of 25% on an item bought for $80, what is the selling price?

Options:

Correct Answer: $100

Solution:

Profit = 25% of 80 = 0.25 * 80 = 20. Selling Price = Cost Price + Profit = 80 + 20 = 100.

If a trader makes a profit of 25% on an item bought for $80, what is the selling price?

If a trader makes a profit of 25% on an item bought for $80, what is the selling price?

Step 1: Identify the cost price of the item, which is $80.
Step 2: Calculate the profit by finding 25% of the cost price. This is done by multiplying 0.25 by 80.
Step 3: Perform the multiplication: 0.25 * 80 = 20. This means the profit is $20.
Step 4: Calculate the selling price by adding the profit to the cost price. This is done by adding $80 (cost price) and $20 (profit).
Step 5: Perform the addition: 80 + 20 = 100. Therefore, the selling price is $100.

Profit Calculation – Understanding how to calculate profit as a percentage of the cost price.
Selling Price Determination – Knowing how to find the selling price by adding profit to the cost price.