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A man bought two articles for $300 and $500. If he sells both for $600 each, wha
Practice Questions
Q1
A man bought two articles for $300 and $500. If he sells both for $600 each, what is his overall profit percentage?
25%
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15%
Questions & Step-by-Step Solutions
A man bought two articles for $300 and $500. If he sells both for $600 each, what is his overall profit percentage?
Steps
Concepts
Cost Price and Selling Price
– Understanding the difference between cost price (CP) and selling price (SP) is crucial for calculating profit.
Profit Calculation
– Calculating profit as the difference between total selling price and total cost price.
Profit Percentage
– Calculating profit percentage using the formula (Profit/Cost Price) * 100.
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