An article originally costs ₹ 5.00. The retailer sells it for ₹ 7.50. By what percentage does he increase the price.
Answers
Answer:
50%
Step-by-step explanatio
Cp = ₹5
Sp = ₹7.5
Profit = ₹7.5 - ₹5
= ₹ 2.5
Profit % = profit / Cp x 100
= ₹2.5/₹5 x 100
= 50 %
Answer:
The retailer has increased the price by 50%.
Step-by-step explanation:
Original cost of the article(cost price) = ₹5.00
Selling price of the article(selling price) = ₹7.50
Difference in selling and original price(profit earned) = 7.5 - 5.0
= ₹2.50
The retailer increased the price by ₹2.50, Hence we need to find percentage that ₹2.50 makes of the original price.
Percentage formula, %increase = (increase in price/original price) x 100
= (2.50/5.00) x 100
= 50%
Hence, the retailer has increased the price by 50%.
ps:- If you are unfamiliar with terms written in brackets, you can ignore them as of now, you will learn about them in higher classes.