Question

A reseller bought a TV for R1500. They repaired it and then resold it. If the repair cost them R347 and they re-sold it for R2500, what percentage profit (based on selling price) did they make?

Answer 1

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Answer 2

Given: The cost price of a TV $=Rs1500$

The repair cost of the same TV $=Rs347$

Sell price of the TV $=Rs2500$

To find: The percentage profit made on the TV.

Solution:

The cost price of the TV as stated by the reseller $=Rs1500$

The cost of repair on the TV $=Rs347$

When any kind of repair or transportation is done on a material then, the cost price of the material is calculated using the repair or transportation cost.

∴ The total cost price $=Rs(1500+347)=Rs 1847$

As the selling price is more therefore obviously there has been a profit,

The profit made on the TV $=Rs(2500-1847)=Rs653$

The formula for profit percentage will be,

$P%$% $=\frac{Profit}{C.P}*100$

$P$% $=\frac{653}{1847}*100$

$P$% $=35.3$%

Final answer:

The profit percentage made on the TV is $35.3$%