A shopkeeper bought an article for $80 and sold it for $100. What is the profit

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Question: A shopkeeper bought an article for $80 and sold it for $100. What is the profit percentage?

Options:

Correct Answer: 25%

Solution:

Profit = Selling Price - Cost Price = 100 - 80 = 20. Profit Percentage = (20/80) * 100 = 25%.

A shopkeeper bought an article for $80 and sold it for $100. What is the profit percentage?

A shopkeeper bought an article for $80 and sold it for $100. What is the profit percentage?

Step 1: Identify the Cost Price (CP) of the article. In this case, the Cost Price is $80.
Step 2: Identify the Selling Price (SP) of the article. In this case, the Selling Price is $100.
Step 3: Calculate the Profit by subtracting the Cost Price from the Selling Price. Profit = SP - CP = 100 - 80.
Step 4: Calculate the Profit, which is $20.
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 = (20 / 80) * 100.
Step 7: Calculate the Profit Percentage, which 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.