Kinyua marked an article at1200 and sold it to a customer at a discount of 15% find the percentage profit he made if he had bought the article at 900
To find the percentage profit made by Kinyua, we need to calculate his profit first.
The discount offered to the customer is 15%, so the selling price of the article is:
Selling price = Marked price - Discount
Selling price = 1200 - (15/100) * 1200
Selling price = 1200 - 180
Selling price = 1020
Kinyua bought the article at 900, and sold it for 1020, so his profit is:
Profit = Selling price - Cost price
Profit = 1020 - 900
Profit = 120
To find the percentage profit, we divide the profit by the cost price and multiply by 100:
Percentage profit = (Profit / Cost price) * 100
Percentage profit = (120 / 900) * 100
Percentage profit = 0.1333 * 100
Percentage profit ≈ 13.33%
Thus, Kinyua made a profit of approximately 13.33%.