A retailer buys a used laptop for ₹22,500. His overhead expenses are ₹1,500. He sells the laptop for ₹30,000. The profit percentage of the retailer is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 25%
The selling price of the laptop is ₹30,000.
The profit made by the retailer is:
Profit = Selling price - Cost price
Profit = ₹30,000 - ₹24,000
Profit = ₹6,000
The profit percentage is:
Profit percentage = (Profit / Cost price) × 100%
Profit percentage = (₹6,000 / ₹24,000) × 100%
Profit percentage = 25%