Question

Tell what is the profit or loss in the following transactions. Also find profit percent or loss percent in the case.
A cupboard bought for Rs. $2,500$ and sold at Rs. $3,000$

Answer 1

Cost price $C.P.=Rs.2500$

Selling price $S.P.=Rs.3000$

We need to find the profit and profit percent.

Profit percent $=\frac{profit\times 100}{C.P.}$

Profit $=S.P-C.P$

$=3000-2500$

$=Rs.500$

Therefore profit percent $=\frac{500\times 100}{2500}$

$=20\%$