A man purchased an item for ₹1,200, spent ₹300 on its repairs and sold it for ₹2,000. What is the profit percentage?
Given:
Cost Price (CP) = ₹1,200
Repair Cost = ₹300 (This is an additional expense, so it is added to CP)
Total Cost Price = ₹1,200 + ₹300 = ₹1,500
Selling Price (SP) = ₹2,000
Formula Used:
Profit=SP−Total CP
Solution:
Profit=2,000−1,500=500
= %
Option (A) is right.
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