Question
A shopkeeper buys a shirt for Rs 480 and sells it for Rs 540. Find his profit and profit percentage.
Solution
Cost Price (CP) = 480 Selling Price (SP) = 540 Profit = SP − CP = 540 − 480 = 60 Profit % = (Profit / CP) × 100 = (60 / 480) × 100 = (1/8) × 100 = 12.5% Answer: Profit = Rs 60, Profit% = 12.5%.
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