Question
Ravi bought jackets at Rs. 350 each and sold them for Rs. 450 apiece. He also incurred an extra cost of Rs. 50 per jacket for transport and taxes. Calculate his profit percentage.
Solution
ATQ,
Effective cost price of each jacket = 350 + 50 = Rs. 400
So, profit earned on each jacket = 450 - 400 = Rs. 50
So, gain percentage = (50 / 400) × 100 = 12.5%
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