Question

If C.P. is Rs. 500, gain 20 % find S.P​

Answer 1

Answer:

₹600

Step-by-step explanation:

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Answer 2

Solution!!

The concept of profit and loss has to be used here. The cost price (CP) and profit percentage is given. We have to find the selling price (SP).

Profit% = 20

Cost Price (CP) = Rs 500

Profit% = (Profit/CP) × 100

20 = (Profit/500) × 100

20 = Profit/5

20 × 5 = Profit

Profit = Rs 100

Profit = SP - CP

Rs 100 = SP - Rs 500

Rs 100 + Rs 500 = SP

SP = Rs 600

Hence, the selling price (SP) is Rs 600

More information:-

If SP>CP, then it is profit.

If CP>SP, then it is loss.

Profit = SP - CP

Loss = CP - SP

Profit% = (Profit/CP) × 100

Loss% = (Loss/CP) × 100

SP → Selling Price

CP → Cost Price