Applications on Percentage - The Story of A T-Shirt

I am Swami and I have a retail outlet in the city. Now I am in the spinning mill to buy t-shirts on whole sale.

The wholesale price of a t-shirt is Rs.200. Now I have to decide on the retail price (MRP), which will be the cost price of the customer to buy a t-shirt. This should include my overheads like shop rent, electricity, maintenance and a profit margin.

I decide it to be 20%. So

the cost price CP = 200 + (20% OF 200)

            = 200 + (20/100 x 200)

            = 200 + 40

            = Rs.240

For any t-shirt, irrespective of the cost, I will have a margin of 20%.

So my profit on a single t-shirt will be
 SP - CP              = 240 - 200
  Profit                 = Rs.40

When I came back to my shop, I realised that there are few tshirts which were not sold from the last season (old stock). I cannot keep them and incur a loss. SO I decide to sell it for a discount of 15%.(CP being Rs.240). The Sale price of this tshirt will be

Sale Price      SP = CP - Discount

 = 240 - (15/100 x 240) 

 = 240 - 36

 = Rs.204

What will be my total profit for the day if I sold one new and one discounted t-shirt each?

Profit = CP - SP

       = (240 + 240) - (240 + 204)

       = 480 - 444

       = Rs.36

What percentage is this profit?

Profit % = Profit/CP x 100 (As both profit and loss are always calculated on the CP)

= (36/480) x 100

= 7.5%

This way I maintain a record of profit/loss on a daily basis and try to run my business, obviously for a profit.

What would you suggest should be my profit margin for (a) girls frock (b) boys denim and (c) party wear . WISH ME LUCK!!!