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A person buys a shirt for Rs. 500 and sells it for Rs. 600. What is the percenta
A person buys a shirt for Rs. 500 and sells it for Rs. 600. What is the percentage profit?
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Q1
A person buys a shirt for Rs. 500 and sells it for Rs. 600. What is the percentage profit?
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Profit = Selling Price - Cost Price = 600 - 500 = 100. Percentage profit = (Profit / Cost Price) * 100 = (100/500) * 100 = 20%.
Questions & Step-by-step Solutions
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Q
Q: A person buys a shirt for Rs. 500 and sells it for Rs. 600. What is the percentage profit?
Solution:
Profit = Selling Price - Cost Price = 600 - 500 = 100. Percentage profit = (Profit / Cost Price) * 100 = (100/500) * 100 = 20%.
Steps: 7
Show Steps
Step 1: Identify the cost price of the shirt, which is Rs. 500.
Step 2: Identify the selling price of the shirt, which is Rs. 600.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling Price - Cost Price = 600 - 500.
Step 4: Calculate the profit amount: Profit = 100.
Step 5: To find the percentage profit, use the formula: Percentage Profit = (Profit / Cost Price) * 100.
Step 6: Substitute the values into the formula: Percentage Profit = (100 / 500) * 100.
Step 7: Calculate the percentage profit: Percentage Profit = 20%.
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