Harbhajan Singh bought 500 kg of rice for 22000 rupees and sold it all at the rate of Rs. 48 per kg. How much profit did he make?
The cost price of 500 kg rice is Rs. 22000.
Selling price of 500 kg of rice is = 500 × 48 = Rs. 24000
Selling price is greater than cost price.
Therefore, there is a profit.
Profit = Selling price - Cost price
= 24000 - 22000
= Rs. 2000
∴ In this transaction, Harbhajan Singh made a profit of Rs. 2000.
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