Question

raj bought a second hand bike for 20,000 then spent 5000 on its repairs and sold it for 30,000. find the profit or loss percent.
with steps
​

Answer 1

Answer: $20\%$

Step-by-step explanation:

Base cost price = $₹20,000$

Overhead charge (repair) = $₹5,000$

Gross cost price = $C.P. + Overhead\space charges$

$= ₹20,000 + ₹5,000$

$= ₹25,000$

Selling price = $₹30,000$

Since $S.P. > G.C.P.$, there is a profit.

Profit amount = $S.P. - G.C.P.$

= $₹30,000 - ₹25,000$

= $₹5,000$

$\therefore$ Profit percent

$= \dfrac{Profit}{C.P.} \times 100$

$= \dfrac{5000}{25000} \times 100$ [simplify this]

$= 20\%$

Hence, the profit percentage is $20\%$