Question

Using the figures given below, frame problems based on profit percent or loss percent
Cost price Rs1600, selling price Rs 2800

Answer 1

Problem : A man bought an article for Rs 1600 and sold it for Rs 2800. Find his profit percent.

Solution : Cost price of an article = Rs 1600
Selling price of an article = Rs 2800
Since selling price is more than cost price, so there is a profit.
Profit = Selling Price − Cost Price
= 2800 − 1600
= Rs 1200
Let x% be the profit made by the man in this transaction. Then,
$\frac{x}{100}=\frac{\mathrm{profit}}{\cos {\displaystyle \mathrm{t}}{\displaystyle }{\displaystyle \mathrm{price}}}=\frac{1200}{1600}$
⇒$\frac{x}{100}\times 100=\frac{1200}{1600}\times 100$
⇒x = 75
∴ The man made a profit of 75% in this transaction.