Question

A man bought a mobile phone for $800 and sold it for $1000. What was his profit as a percentage of the cost price ​

Answer 1

1000/800 = 125% profit

Answer 2

25%

Explanation:

Profit = Selling price - Cost price

= 1000 - 800

= $200

%Profit = Profit

_____. × 100. ( profit over cost price times 100)

Cost Price

= 200

____. × 100%

800

= 25%