sukhman wrote:Tom calculates his profit on selling price and finds it to be 20 % . What is his actual profit percentage ?
a) 20 b) 30 c)25 d)15 e)10
Let the selling price = 100.
Profit = 20% of the $100 selling price = 20.
Cost price = (selling price) - (profit) = 100-20 = 80.
Profit percentage = profit/cost = 20/80 = 1/4 = 25%.
The correct answer is
C.
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