Question

Rakesh purchased a TV for 5000 and paid 250 for its transportation. If he sold the TV for 5075, find his profit or loss percentage.

Answer 1

Price at which TV was bought $=5000$
Overheads in the form of transportation $=250$
$\therefore$ The total cost price of the TV $=(5000+250)=5250$
Selling price of the TV $=5075$
$SP<CP⟹$ There is a loss and loss $=CP-SP=5250-5075=175$.
$\therefore$ loss percentage $=\frac{Loss}{CP}\left(100\right)=\frac{175}{5250}\times 100=3.33\%$
$\therefore$ Rakesh incurred a loss of 3.33%