Question

A) a shopkeeper buys a camera for $300 and sells it at $360. Calculate the percentage profit.

b) A customer is buying 2 such cameras from the shopkeeper and he requests for a discount. if the shopkeeper wants to make a total profit of exactly $100 , find the percentage discount he should give the customer.


help me ;)

Answer 1

a)answer:profit= selling price - cost price

=$360-$300=$60

percentage profit=profit*100%/cost price

=20%

Explanation:

meaning of profit: this is the amount of money that one earns after selling his or her product, as you saw in the above correction, I took selling price subtracting the cost price, which means that the selling price is higher than the cost price.

formula: p= sp(selling price)- cp (cost price)

.when someone asks you the percentage profit, this means that the profit is calculated on the percentage, that's why I took the profit dividing by the cost price and then multiplying the 100, over percent. you may ask why divided by the cost price this is means that it is the total original price of the product.

Answer 2

a) profit/original price x100 =percentage profit

(Profit: 360-300=$60)

=60/300 x100
=20%

b) two cameras (original price): 300x2= $600
two cameras (price sold): 360x2 = $720

Profit without discount: 720-600= $120

120-100= $20 discount

20/720 x100 =2.78%