Question

Ram bought an old bicycle for INR 1050 and spent INR 150 on repairing it. he sold it for INR 1320, what was his profit and profit percent ?

Answer 1

$\Rightarrow$ Total cost Ram spend on old bicycle = $Rs.(1050+150)=Rs.1200$

$\Rightarrow$ Selling price of bicycle $=Rs.1320$

$\Rightarrow$ Profit = Selling price - Total cost price

$\therefore$ $Profit=Rs.1320-Rs.1200=Rs.120$

$\Rightarrow$ $Profit\%=\frac{Profit}{Costprice}\times 100$

$\Rightarrow$ $Profit\%=\frac{120}{1200}\times 100$

$\therefore$ $Profit\%=10\%$