Question

purchase the bag for rupees 2000 and sold it for rupees 2600 including 4% of vat find his gain or loss percent

Answer 1

Find the selling price before the VAT:

100 + 4 = 104%

104% = Rs 2600

1% = 2600 ÷ 104 = Rs 25

100% = 25 x 100 = Rs 2500

Find the profit:

Profit = Selling Price - Cost Price

Profit = 2500 - 2000 = Rs 500

Find the profit percentage:

Profit percentage = 500/2000 x 100 = 25%

Answer: The gain percentage is 25%