Question

by selling a TV for rupees 8000 loses 20% of his cost. if he sells it for rs 11000,what profit or loss would be there for him?

Answer 1

Let the cost price be X

X - 20%(X) = 8000

X - 0.2X = 8000

0.8X = 8000

X = 8000/0.8

X = 10,000

Cost price of TV = Rs.10,000

Selling Price = Rs.11,000

SP > CP, therefore profit

Profit = Selling price - Cost Price = Rs.11,000 - Rs.10,000 = Rs.1000

Profit% =( Rs.1000/ Rs.10,000) × 100 = 10%