Question

Amita purchased a handbag for Rs.3000 and sold it at 20% above the cost price. If Rs. 360 is paid as tax on it, find her net profit and profit percentage.

Answer 1

S.P. = `((100 +" Profit" %)/(100)) xx "C.P."`

∴ S.P. = `((100 + 20)/(100))` x Rs.3000
= Rs.3600
∴ profit
= S.P. - C.P.
= Rs.600
This profit includes tax = Rs.360
∴ net profit
= Rs600 - 360
= Rs. 240
∴ Profit %
= `"Profit"/"C.P." xx 100`

= `(240)/(3000) xx 100`
= 8
So, the net profit is Rs.240 and the profit percentage is 8.