Question

What is the formula to calculate profit amount when P% and CP is given?

a) P% + CP
b) P% of CP
c) CP - P%
d) CP/P%

Answer 1

The formula to calculate profit amount when P% and CP is given is option b) P% of CP.

Step-by-step explanation:

The formula to calculate profit amount when P% and CP is given is option b) P% of CP. To find the profit amount, you multiply the cost price (CP) by the percentage profit (P%) and divide the result by 100. This formula can be represented as:

Profit amount = (P% × CP) / 100

For example, if the cost price is $100 and the percentage profit is 20%, the profit amount would be (20% × $100) / 100, which simplifies to $20.