Question

. Ravi purchased a chair at 500 and sold it at 550. What was his gain or loss percent?​

Answer 1

ANSWER:Profit percentage = 10

Step-by-step explanation:

first if cost price (here 500) is more than selling price (here 550) then it is a loss, if cost price (here 500) is less than selling price (here 550) then it's a profit and coming to the question, profit percentage = profit/cost price multiplied by 100 ,loss percentage = loss/selling price multiplied by 100