Kantabai bought 25 dresses from a whole sale merchant for ₹10,000 and sold them all at ₹460 each. How much profit percent did Kantabai get in this transaction?
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Kantabai bought 25 dresses from a whole sale merchant for ₹10,000 and sold them all at ₹460 each. How much profit percent did Kantabai get in this transaction?
The cost per item is given as ₹460
Total number of items is given as 25
Total cost becomes = 460 × 25 = ₹11500
Profit :
= Sell Price - Cost Price
= 11500 − 10000
= ₹1500
Also,
It should be noted that, if cost price is denoted as CP and sale price as SP then
loss = SP − CP and profit = CP −SP
Which only makes sense because in loss CP > SP and in profit SP > CP.
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