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James buys an antique watch for £125 and then sells it for £182.50.Work out his percentage profit.

Question

James buys an antique watch for £125 and then sells it for £182.50.Work out his percentage profit.
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Solution 1

Step 1: First, we need to find out how much profit James made. We do this by subtracting the cost price from the selling price.

Profit = Selling price - Cost price Profit = £182.50 - £125 Profit = £57.50

Step 2: Next, we calculate the percentage profit. The formula for percentage profit is:

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Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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