SOLUTION: A dealer sells a radio set at Rs. 300 making a profit of 20% on the selling price. Find the cost of the radio and the percentage of profit on the cost price.
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Question 761038: A dealer sells a radio set at Rs. 300 making a profit of 20% on the selling price. Find the cost of the radio and the percentage of profit on the cost price. Answer by ramkikk66(644) (Show Source):
You can put this solution on YOUR website! Selling price = Rs. 300
Profit = 20% of Selling price or 0.2 of selling price (Because 20% = 20/100 = 0.2)
So, profit =
Profit = Rs 240
Cost price = Selling price - Profit
Therefore, cost price =
Cost price = Rs 240
So, profit as a percentage of cost price =
Answer: 25%