State whether the given statement is true or false:

I bought an item for Rs.5 and sold it for Rs.10. My profit is 25%. I have no overhead charges.

True

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False

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Solution

The correct option is B
False

Without overhead charges, profit percentage is $\frac{s e l l i n g p r i c e - c o s t p r i c e}{c o s t p r i c e}$ .

This gives % profit as 100%.

Hence, 25% can’t be profit %.

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