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A retailer buys a cooler for Rs. 1200 and overhead expenses on it are Rs.40. If the cooler sells for Rs. 1550, determine his profit percent.

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15%

45%

25%

23%

answer is C.

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Detailed Solution

Given,
The cooler costs is Rs.1200 and overhead expenses is Rs.40.
We have to find the profit percent if he sells the cooler for Rs.1550.

Profit % = profit × 100 CP

So, the total cost price is,

CP = 1200 + 40 ⇒ 1240

Profit = SP – CP.
Now, profit percentage is,

Profit % = Profit × 100 CP Profit % = (SP − CP) × 100 CP ⇒ (1550 − 1240) 100 1240 ⇒ 25 %

Thus, the profit percent is 25%.
Therefore, option (3) is correct.

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