Tell what is the profit or loss in the following transactions. Also find profit percent or loss percent in given case.
A refrigerator bought for Rs 12,000 and sold at Rs 13,500.
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Solution
Cost price = Rs 12000
Selling price = Rs 13,500
Profit = 13500 − 12000 = Rs 1500
Profit% = `"Profit"/"CP" xx 100`
Profit % = `500/2500 xx 100` = 20 %
Concept: Profit or Loss as a Percentage
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