Question

A dealer buys a wristwatch for Rs 225 and spends Rs 15 on its repairs. If he sells the same for Rs 300, find his profit percent.

Answer 1

We know the cost price of wrist watch = Rs 225

Cost of repairing = Rs 15

Total cost = Rs 225 + Rs 15 = Rs 240

Selling price of watch = Rs 300

By using the formula,

Gain = selling price – cost price

= Rs 300 – Rs 240

= Rs 60

By using the formula,

Gain % = (gain/cost price) × 100

= 60/240 × 100

= 25%