Calculating Percentage Profit on Calculators
First, determine the cost price (CP) and selling price (SP) of the calculators.
- Cost Price (CP) = ₹550
- Selling Price (SP) = ₹580
Calculating Profit Amount
Profit is the difference between the selling price and the cost price.
Profit = SP - CP
Profit = ₹580 - ₹550 = ₹30
Calculating Percentage Profit
The percentage profit is calculated using the formula:
$ \text{Percentage Profit} = \left( \frac{\text{Profit}}{\text{CP}} \right) \times 100 $
Substitute the values:
$ \text{Percentage Profit} = \left( \frac{30}{550} \right) \times 100 $
Simplify the fraction:
$ \text{Percentage Profit} = \left( \frac{3}{55} \right) \times 100 $
$ \text{Percentage Profit} = \frac{300}{55} $
$ \text{Percentage Profit} \approx 5.4545... \% $
Rounding to two decimal places, the approximate percentage profit is 5.45%.
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