A shopkeeper expects a gain of 40% on his cost price. If in a week, his sale proceeds were ₹3,955, what was his profit (in ₹)?
1,130
Let cost price be \(CP\). A gain of 40% on CP means selling price \(SP = CP + 0.40 \, CP = 1.40 \, CP\).
Given the sale proceeds (SP) for the week are ₹3,955, so \(1.40 \, CP = 3955\).
Therefore, \(CP = \frac{3955}{1.40} = 2825\).
Profit \(= SP - CP = 3955 - 2825 = 1130\).
Hence, the shopkeeper's profit for the week is ₹1,130.
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