Question
Download Solution PDFArun bought a cycle for ₹ 800 and then sold it for ₹920. What is his profit percentage ?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost Price (CP) = ₹800
Selling Price (SP) = ₹920
Formula used:
Profit Percentage =
Calculations:
Profit = SP - CP
⇒ Profit = 920 - 800
⇒ Profit = 120
Profit Percentage =
⇒ Profit Percentage =
⇒ Profit Percentage = 15%
∴ The correct answer is option (3).
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