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Profit and Loss

Choose the co...

Question

Choose the correct option in the transaction:

Cost Price = ₹ 1235 and Selling Price = ₹1638

A

Loss of ₹ 38

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B

Loss of ₹ 403

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C

Profit of ₹ 403

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D

Profit of ₹ 400

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Solution

The correct option is C
Profit of ₹ 403

CP = ₹ 1235
SP = ₹ 1638

Since the selling price is greater than the cost price, we have a profit, which is calculated as:

Profit = SP - CP
= ₹ 1638 - ₹ 1235
= ₹ 403

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