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Question
A cricket bat was purchased for ₹ 800 and was sold for ₹ 1600. Then profit earned is ______.
Options
100%
64%
50%
60%
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Solution
A cricket bat was purchased for ₹ 800 and was sold for ₹ 1600. Then profit earned is 100%.
Explanation:
Given, the cost price of a cricket bat = ₹ 800
And the selling price of a cricket bat = ₹ 1600
∴ Profit = SP – CP
= ₹ (1600 – 800)
= ₹ 800
We know that,
Profit% = `"Profit"/"CP" xx 100%`
= `800/800 xx 100%`
= 100%
Hence, profit earned is 100%.
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