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Q.

A retailer buys a radio for Rs.225. His overhead expenses are Rs. 15. If he sells the radio for Rs. 300, determine his profit percent.

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a

25%

b

12%

c

30% 

d

28%

answer is B.

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Detailed Solution

Given,
The radio costs is Rs.225 and overhead expenses is Rs.15, so the total cost price is,
  ⇒CP=225+15 ⇒240  
Profit =
Now, profit percentage is,
Profit %=  profit ×100 CP Profit %= (SP−CP)×100 CP ⇒ (300−240)100 240 ⇒25%  
The profit percent is 25%.
Therefore, option (2) is correct.
 
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