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Question 3

Question 3

Question 3: If a person bought a 500 Rs bicycle and sold it for 800 Rs, what is the profit percentage?

          a. 20                      b. 30                       c. 40                            d. none

FPSC Custom Inspector 2016

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Solution:

Here,

Cost Price of bicycle = CP = 500 Rs

Sale Price of bicycle = SP = 700 Rs

Profit percentage ?

To solve this we use profit formula;

Profit =SP - CP

Putting values;

Profit =800-500=300Rs

So. his profit is 300. Now let profit is ‘x’ percent of cost price ;

i-e    Profit = \frac{x}{100} Of CP

\Rightarrow 300 = \frac{x}{100} \times 500

\Rightarrow x = \frac{300\times 100}{500}

\Rightarrow x = 60%

So, he earned 60% profit

 

 

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