Question

Manjit bought an iron safe for rs. 5580and paid rupees 170 for its transportation then he sold it for rs. 6440 find the gain percent earned by him

Answer 1

cost price =5580 + 170 = 5750

selling price = 6440

selling price > cost price

so Profit exists

Profit = selling price - cost price

= 6640 - 5750

= 890

profit percentage

= (profit/cost price)×100

= (890/5750)×100

= 15.47%

Answer 2

The gain percent earned by Manjit is 12℅.

Given,

Cost price(C.P)= Rs.5580

Transportation cost(T)= Rs. 170

Selling price( S.P) = Rs.6440

So the total cost for Manjit = C.P+ T = Rs 5580+170 = Rs. 5750

Now the profit earned is= S.P-C.P = Rs. 6440-5750 = Rs. 690

Therefore, gain % = (Gain/C.P)*100 = (690/5750)*100 = 12%.

So, Manjit earned 12% as profit.