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- Identify CP and SP.
- Find profit/loss amount.
- Use CP as base for percentage if asked.
Correct Answer: C
Correct Answer: C
Method / Topic: Profit and Loss
Profit or loss percentage is calculated on cost price.
Short Explanation
Detailed Explanation
Correct Answer: C
Method / Topic: Profit and Loss
Profit = Selling Price - Cost Price = 575 - 500 = Rs. 75. Profit percentage = 75/500 × 100 = 15%. Think of it as earning Rs. 75 on an investment of Rs. 500.
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Learn + Solve: Shortcut, Trap & Fast Route Click to view shortcut, steps, and common mistake
Shortcut used, common trap, and the fastest solving route
- Identify CP and SP.
- Find profit/loss amount.
- Use CP as base for percentage if asked.
A shopkeeper buys an item for Rs. 500 and sells it for Rs. 575. What is the profit percentage?
Explanation
Correct Answer: C
Method / Topic: Profit and Loss
Profit or loss percentage is calculated on cost price.
Short Explanation
Detailed Explanation
Correct Answer: C
Method / Topic: Profit and Loss
Profit = Selling Price - Cost Price = 575 - 500 = Rs. 75. Profit percentage = 75/500 × 100 = 15%. Think of it as earning Rs. 75 on an investment of Rs. 500.
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