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.

Algebra ->  Finance -> 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.      Log On


   



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) About Me  (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 = 300%2A0.2=60
Profit = Rs 240
Cost price = Selling price - Profit
Therefore, cost price = 300+-+60+=+240
Cost price = Rs 240
So, profit as a percentage of cost price = 60%2F240+=+0.25+=+25+per+cent
Answer: 25%