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Showing 1 question in Mathematics for Class 8. Tap a card to reveal the answer.
MathematicsComparing QuantitieseasyA shopkeeper buys a bag for 500 rupees and sells it for 575 rupees. Find the profit percent.
Reveal answer ↓
What it is
Profit percent measures your gain compared with the cost price, not the selling price.
Answer
Profit = selling price - cost price = 575 - 500 = 75 rupees. Profit percent = (profit / cost price) x 100 = (75 / 500) x 100 = 15 percent. So the shopkeeper makes a 15 percent profit.
Profit% = (Profit / Cost Price) x 100
- •Profit = SP - CP = 75
- •Profit% = (Profit / CP) x 100
- •= (75/500) x 100 = 15%
Why learn this
It's the number every shop, startup and investor lives and dies by.
💡 Memory trick
Always divide by CP - the Cost Price is your 'Compare Point'.