Question

Mihir bought 20 refills and sold them at 4 rupees each. If it had cost 50 rupees for the refills, what was his profit or loss percent?

Answer 1

total money required to buy =50
so,total selling price =20×4=80
so , profit = 80-50=30
so profit percent =30/80×100=12.5×3

Answer 2

Answer:

The profit percentage is 60%.

Step-by-step explanation:

Given : Mihir bought 20 refills and sold them at 4 rupees each. If it had cost 50 rupees for the refills.

To find : What was his profit or loss percent?

Solution :

The cost price is CP=Rs.50

Mihir bought 20 refills and sold them at 4 rupees each.

The selling price is $SP=20\times 4=Rs.80$

As SP>CP

Profit = SP-CP

Profit= Rs.80-Rs.50

Profit= Rs.30

The profit percentage is

$P\%=\frac{P}{CP}\times 100$

$P\%=\frac{30}{50}\times 100$

$P\%=60\%$

Therefore, the profit percentage is 60%.