Question

Question 1 (c)
Tell what is the profit or loss in the following transactions. Also find profit per cent or loss per cent in each case.
c) A cupboard bought for Rs 2,500 and sold at Rs 3,000.

Answer 1

c) Given that,

Cost price = Rs 2500

Selling price = Rs 3000

Selling price > Cost price $\Rightarrow$ Profit

$\therefore$ Profit = 3000 - 2500 = Rs 500

$Profit\%=\frac{Profit}{CP}\times 100$

$Profit\%=\frac{500}{2500}\times 100$

$Profit\%=20\%$