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Question
Rohit purchased a TV for Rs.15,000 and sold it at 20% above the cost price. If the selling price includes Rs. 1000 as tax, find his net profit and profit percent.
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Solution
C.P. of the TV = Rs.15000
Profit made on the TV
= 20% of C.P.
= `(20)/(100) xx "Rs."15000`
= Rs.3000
So, S.P. = C.P. + Profit
= Rs.15000 + Rs.3000
= Rs.18000
Since the S.P. includes Rs.1000 as tax
So, the actual S.P. (including tax)
= S.P.(without tax) - tax
= Rs.18000 - Rs.1000
= Rs.17000
So, the net profit
= S.P. (including tax) = C.P. of the TV
= Rs.17000 - Rs.15000
= Rs.2000
Profit %
= `"Profit"/"C.P." xx 100`
= `(2000)/(15000) xx 100`
= `13(1)/(3)`%
Hence, the net profit is Rs.2000 and the profit percent is `13(1)/(3)`%.
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