Rohit bought a tape recorder for Rs 1500 and sold it for Rs1800.Calculate the profit or loss percent.
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Solution!!
The cost price (CP) and the selling price (SP) is already given in the question. So, we just need to find out the profit or loss percentage.
Let's find out if it is profit or loss.
CP = Rs 1500
CP = Rs 1500SP = Rs 1800
SP>CP
Profit = SP - CP
Profit = Rs 1800 - Rs 1500
Profit = Rs 300
Profit% = (Profit/CP) × 100
Profit% = (300/1500) × 100
Profit% = 300/15
Profit% = 20%
FYI if CP>SP, then it would have been loss.
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