Question

Amit bought a table for Rs 1200 and spend rupees 200 on its repair he sold it for 1680 .His profit or loss percent is​

Answer 1

Answer:

As SP is greater than CP(spend money), there is a profit.

Profit % = 20%

Step-by-step explanation:

Given, Amit bought the table for Rs 1200. Due to this, it is justifiable why its CP should be "Rs 1200".

But, here, we are are asked for profit/loss which includes every single amount he had to pay(before selling it to someone else).

    So, total amount spend by him = selling price + extra

(CP) Total amount spend by him = 1200 + 200

                                  = Rs 1400

Therefore,

Profit = SP - CP

         = SP - (Total amount spend by him)

         = 1680 - 1400  

         = 280

Hence,

 Profit%(on spend money) = 280/1400 * 100%

                         = 20%