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Question
Using the figures given below, frame problems based on profit percent or loss percent.
Cost price ₹1600, selling price ₹ 2800
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Solution
A man bought an article for Rs 1600 and sold it for Rs 2800. Find his profit percent.
Cost price of an article = Rs 1600
Selling price of an article = Rs 2800
Since selling price is more than cost price, so there is a profit.
Profit = Selling Price − Cost Price
= 2800 − 1600
= Rs 1200
Let x % be the profit made by the man in this transaction. Then,
`"x"/100 = "profit"/"cost price" = 1200/1600`
`"x"/100 = 1200/1600`
`1200/1600 = 12/16 = 3/4`
`x/100 = 3/4`
`x = 3/4 xx 100 = 75`
∴ The man made a profit of 75% in this transaction.
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