Question

A trader bought 40 shirts for Birr 220 and sold them at Birr 72 each
Find the profit percentage.

Answer 1

Given:

Cost price of 40 shirts = Birr 220

Selling price of each shirt = Birr 72

To find:

The profit percentage.

Solution:

We have,

Cost price (CP) of 40 shirts = Birr 220

Selling price (SP) of each shirt = Birr 72

So, the selling price (SP) of 40 shirts is:

$72\times 40=2880$

We need to find the profit percentage.

$\text{Profit percentage}=\dfrac{SP-CP}{CP}\times 100$

$\text{Profit percentage}=\dfrac{2880-220}{220}\times 100$

$\text{Profit percentage}=\dfrac{2660}{220}\times 100$

$\text{Profit percentage}=1209.09\%$

Therefore, the profit percentage is 1209.09%.