Question

A wardrobe was bought for Rs. 15,980 . it was sold for Rs 16,895 . find profit or loss .​

Answer 1

Answer:

cost price of wardrobe = ₹ 15,980

selling price of wardrobe = ₹16,895

since 16,895>15980, i.e., SP>CP, so we can say that there was a profit in the transaction.

Now, gain amount

= SP-CP

= 16895 - 15980

= ₹915

Also, gain percentage can be calculated as,

gain × 100/ CP

= 915 × 100 / 15980

= 5.7% (approx)