A shopkeeper buys an article for ₹850, spends ₹200 on repairs and sells it for ₹1,200. What is his profit percentage (rounded off to two decimal places)?
14.29%
To find the profit percentage, we need to follow these steps:
- Calculate the total cost price (CP) of the article. This includes both the purchase price and any additional costs incurred such as repairs. Here, the purchase price is ₹850 and the repair cost is ₹200.
Total Cost Price (CP) = Purchase Price + Repair Cost = ₹850 + ₹200 = ₹1050
- Identify the selling price (SP) of the article, which is given as ₹1200.
- Calculate the profit earned using the formula: \text{Profit} = \text{Selling Price} - \text{Cost Price}
Profit = ₹1200 - ₹1050 = ₹150
- To find the profit percentage, use the formula: \text{Profit Percentage} = \left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100
Profit Percentage = \left( \frac{150}{1050} \right) \times 100 = 14.2857\ldots which rounds off to 14.29%.
Hence, the correct answer is 14.29%.
This calculation explains that the shopkeeper made a profit of 14.29% on the deal.
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Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
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An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?
