Apple is producing the iPhone at a cost of 200 dollars and selling it at 600 dollars. In the production of 100 phones, 40 were defective phones. What is the percentage of loss or profit?

Question: Apple is producing the iPhone at a cost of 200 dollars and selling it at 600 dollars. In the production of 100 phones, 40 were defective phones. What is the percentage of loss or profit?

Solution:
100 phones making cost = (100 × 200) = 20000 dollars.
Selling price of 60 phones = (60 × 600) = 36000 dollars

profit = (36000 - 20000) = 16000

profit percentage = (16000/20000)100%
= 80%