Step 1: Let's assume the cost price of one Omega watch is 'x' units.

Step 2: Therefore, the cost price of 17 Omega watches is 17x units.

Step 3: The shopkeeper earns a profit equal to the selling price of 7 Omega watches. So, the profit is 7x units.

Step 4: The selling price of 17 Omega watches is the cost price plus profit, which is 17x + 7x = 24x units.

Step 5: The profit percentage is calculated by the formula (Profit/Cost Price) * 100. Substituting the given values, we get (7x/17x) * 100 = 41.18%.

So, the profit percentage of the shopkeeper is 41.18%.

Question

Step 1: Let's assume the cost price of one Omega watch is 'x' units.

Step 2: Therefore, the cost price of 17 Omega watches is 17x units.

Step 3: The shopkeeper earns a profit equal to the selling price of 7 Omega watches. So, the profit is 7x units.

Step 4: The selling price of 17 Omega watches is the cost price plus profit, which is 17x + 7x = 24x units.

Step 5: The profit percentage is calculated by the formula (Profit/Cost Price) * 100. Substituting the given values, we get (7x/17x) * 100 = 41.18%.

So, the profit percentage of the shopkeeper is 41.18%.

Knowee AI · Accepted Answer

Step 1: Let's assume the cost price of one Omega watch is 'x' units.

Step 2: Therefore, the cost price of 17 Omega watches is 17x units.

Step 3: The shopkeeper earns a profit equal to the selling price of 7 Omega watches. So, the profit is 7x units.

Step 4: The selling price of 17 Omega watches is the cost price plus profit, which is 17x + 7x = 24x units.

Step 5: The profit percentage is calculated by the formula (Profit/Cost Price) * 100. Substituting the given values, we get (7x/17x) * 100 = 41.18%.

So, the profit percentage of the shopkeeper is 41.18%.

A shopkeeper by selling 17 Omega watches, earns a profit equal to the selling price of 7 Omega watches. What is his profit percentage?