If the cost price of an article is Rs. 500 and the selling price is Rs. 600, wha

If the cost price of an article is Rs. 500 and the selling price is Rs. 600, what is the profit percentage?

If the cost price of an article is Rs. 500 and the selling price is Rs. 600, what is the profit percentage?

Step 1: Identify the cost price of the article, which is Rs. 500.
Step 2: Identify the selling price of the article, which is Rs. 600.
Step 3: Calculate the profit by subtracting the cost price from the selling price: Profit = Selling Price - Cost Price.
Step 4: Substitute the values: Profit = 600 - 500.
Step 5: Calculate the profit: Profit = 100.
Step 6: To find the profit percentage, use the formula: Profit Percentage = (Profit / Cost Price) * 100.
Step 7: Substitute the profit and cost price into the formula: Profit Percentage = (100 / 500) * 100.
Step 8: Calculate the profit percentage: Profit Percentage = 20%.

Profit Calculation – Understanding how to calculate profit by subtracting cost price from selling price.
Profit Percentage – Calculating profit percentage using the formula (Profit/Cost Price) * 100.