Question

A person bought an article for Rs 560 and sold it for Rs 700. Find the profit percent.​

Answer 1

The person gains a profit of 25%.

• Cost price of the article = Rs. 560
• Selling price of the product = Rs. 700
• As the selling price is greater then the cost price the person earned a profit
• Profit = Selling price - Cost price = 700 - 560 = 140
• Profit percentage = $\frac{profit}{Costprice}$ × 100

Profit percentage = $\frac{140}{560}$× 100 = 25

Profit percentage = 25%