Discussion
Selling price of a radio is Rs. 300 where profit is Rs. 50. What is the percent of profit ?
Answer: A
The profit is 20%.
Profit percentage is always worked out on the cost price, so first find the cost price.
\[ \begin{aligned} \text{CP} &= 300 - 50 = \text{Rs. } 250 \\ \text{Profit \%} &= \frac{50}{250} \times 100 = 20\% \end{aligned} \]
The common mistake is to divide the profit by the selling price, which gives 50/300, about 16.7%, and is not offered. 25% would require a cost price of Rs. 200, and 10% or 5% would mean a far smaller profit on Rs. 250.
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