Question
A cupboard bought for ₹ 2,500 and sold at ₹ 3,000. What is the profit or loss in the transaction? Also, find the profit percent or loss percent if it was sold for ₹ 2000.
[4 MARKS]
Answer: Option A
:
Was this answer helpful ?
:
Concept: 1 Mark
Steps: 1 Mark
Answer: 1 Mark Each
Given that,
Cost price = ₹ 2500
Selling price = ₹ 3000
Selling price > Cost price ⇒ Profit
∴ Profit = 3000 - 2500 = ₹ 500
Profit %=ProfitCP×100
Profit %=5002500×100
Profit %=20%
Now it was sold for ₹ 2000.
The selling price, SP = ₹ 2000
SP<CP
Therefore it is a case of loss.
Loss = CP - SP = 2500 - 2000 = ₹ 500
So, the loss % is given by,
Loss % = 5002500×100 = 20 %
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution