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.) ?
Rs. 700
Given:
Cost price is 2800 rupees
Profit as a percentage of selling price is 20%
Used formula:
Profit = (Selling Price - Cost Price)
Profit% according to Selling Price = (Profit/Selling Price) × 100
Where, S.P. = Selling Price, C.P. = Cost Price
Calculation:
Here, Cost price = 2800 rupees, Selling price as P% = 20
As per the question,
Profit as a percentage of Selling Price = (Profit/Selling Price) × 100
⇒ 20 = ( Profit/ Selling Price) × 100
⇒ 20 = ( Selling Price - 2800)/Selling Price× 100 [ Profit = Selling Price - Cost Price]
⇒ 20 Selling Price = 100 Selling Price - 280000
⇒280000 = 80 Selling Price
⇒ Selling Price = 3500 rupees
Now,
Actual Profit = (Selling Price - Cost Price) = (3500 - 2800) rupees = 700 rupees
Therefore, the actual profit is 700 rupees.
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 ?
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?
If an article is sold for Rs. 355, there is a loss of 29%. At what price (in Rs.) should it be sold to gain 31% of profit?
