A man buys an article for Rs.27.50 and sells it for Rs.28.60. Find his gain percent.(A) 1% (B) 2% (C) 3% (D) 4%
Question
A man buys an article for Rs.27.50 and sells it for Rs.28.60. Find his gain percent.(A) 1% (B) 2% (C) 3% (D) 4%
Solution
Step 1: First, we need to find out how much profit the man made. We do this by subtracting the cost price from the selling price.
Profit = Selling Price - Cost Price Profit = Rs.28.60 - Rs.27.50 Profit = Rs.1.10
Step 2: Next, we need to calculate the profit percentage. The formula to calculate profit percentage is:
Profit % = (Profit / Cost Price) * 100
Substituting the values we have:
Profit % = (Rs.1.10 / Rs.27.50) * 100 Profit % = 4%
So, the man made a profit of 4% on the article. Therefore, the correct answer is (D) 4%.
Similar Questions
A trader purchases several articles at the rate of 13 for Rs.10 and sells them at the rate of 10 for Rs.13.What is his gain/loss?69% gain56.25% gain56.25% loss25%
The ratio of C.P and S.P of an article is 25:26. Find gain percent.5%4%26%25%
A man sold two articles for Rs.800 each.On selling first, he gains 20% and on the other 30%.What is the profit percent in the transaction?24%24.8%25%None of these
Select the correct answerWhen an article is sold for Rs.355, there is a loss of 29%. To gain 21%, it should be sold for Rs?Options635580.8605629.2
Find C.P. when S.P.=Rs. 40.60 and gain% =16%.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.