Raj bought milk for Rs 480. He converted it into yoghurt and sold it for Rs 800. How much profit did he make
Answers
Answer:
800 -480 is the profit i.e. 320
Given:
✰ C.P. of a milk = Rs. 480
✰ S.P. of yoghurt = Rs. 800
To find:
✠ How much profit did he make.
Solution:
This question is from Profit and loss topic.
Let's first understand the basic terms used in this chapter before solving the given problem.
Cost price:
➛ The price for which an article or an article is purchased is called the cost price.
- In short form, the cost price is written as C.P.
Selling price:
➛ The price for which an article or a good is sold is called the selling price.
- In short form, the selling price is written as S.P.
Profit:
➛ If the selling price is more than the cost price, then there is a profit.
- Profit = S.P. - C.P.
Loss:
➛ If the selling price is less than the cost price, then there is a loss.
- Loss = C.P. - S.P.
As we provided in the question with cost price for which the thing is bought and selling price for which it is sold and we know that the selling price is more than the cost price. So, there is profit.
S.P. > C.P.
Rs. 800 > Rs. 480
Therefore,
➤ Profit = S.P. - C.P.
➤ Profit = 800 - 480
➤ Profit = Rs. 320
∴ He made profit of Rs. 320.
Now, what if we need to find profit percentage too?
We will use formula and putting the values in the formula and then doing required calculations, we will easily find out the profit percentage.
✭ Profit percent = Profit/C.P. × 100% ✭
Putting the values in the formula, we have:
➤ Profit percent = 320/480 × 100
➤ Profit percent = 320/48 × 10
➤ Profit percent = 3200/48
➤ Profit percent ≈ 66.67 %
∴ The profit percentage ≈ 66.67 %
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