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.
Similar Questions
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A man buys 9 identical articles for a total of ₹16. If he sells each of them for ₹2.8, then his profit percentage will be ______%.
A fruit seller has 24 kg apples worth ₹3,600. He sells 12 kg apples at a gain of 20% and the remaining at a loss of 10%. Find his gain or loss (in ₹).
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Important Questions from Profit and Loss
By selling an article for Rs. 2,200, a profit of 10% is earned. If the same article is sold for Rs. 2,600, then what will be the gain percentage?
By selling an article for Rs. 640, a person loses 15% of its selling price. At what price (in Rs.) should he sell it to gain 15% on its cost price?
The selling prices of articles A and B are the same. A is sold at a profit of 28 percent and B is sold at a loss of 24 percent. If the total selling price of the both articles is Rs. 48640, then what is the cost price of A and B, respectively ?
The cost price of an article is Rs. 2800. Profit as a percentage of selling price is 20 percent. What is the actual profit (in Rs.) ?
A trader bought 640 kg of rice. He sold a part of rice at 20% profit and the rest at 5% loss. He earned a profit of 15% in the entire transaction. What is the quantity (in kg) of rice that he sold at 5% loss?
