Given:
Cost price = Rs. 4000
Repairs cost = Rs. 500
Selling price = Rs. 5000
Formula Used:
Profit percentage = (Profit / Total Cost Price) × 100
Solution:
Total Cost Price = Rs. 4000 + Rs. 500 = Rs. 4500
Profit = Selling Price - Total Cost Price = Rs. 5000 - Rs. 4500 = Rs. 500
Profit percentage = (500 / 4500) × 100 = 11.11%
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An article was sold at ₹600, making a profit of 20%. The cost price of the article was
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