A dealer buys a wristwatch for Rs 225 and spends Rs 15 on its repairs. If he sells the same for Rs 300, find his profit percent.
We know the cost price of wrist watch = Rs 225
Cost of repairing = Rs 15
Total cost = Rs 225 + Rs 15 = Rs 240
Selling price of watch = Rs 300
By using the formula,
Gain = selling price – cost price
= Rs 300 – Rs 240
= Rs 60
By using the formula,
Gain % = (gain/cost price) × 100
= 60/240 × 100
= 25%
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