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A man buys a watch for Rs. 400 and sells it for Rs. 500. Find the profit percentage.
20%
25%
30%
15%
25%
Observe that the profit is 100 on a base of 400. Since 100 is exactly 1/4th of 400, the percentage is simply 1/4 expressed as 25%.
Cost Price (CP) = Rs. 400, Selling Price (SP) = Rs. 500
Profit%=CPSPтИТCPтАЛ├Ч100
Observe that the profit is 100 on a base of 400. Since 100 is exactly 1/4th of 400, the percentage is simply 1/4 expressed as 25%.
Many students mistakenly calculate the profit percentage based on the Selling Price (SP) instead of the Cost Price (CP), leading to an incorrect result of 20%.
Calculate Profit
Find the absolute profit by subtracting the Cost Price from the Selling Price: Profit=SPтИТCP.
Profit=500тИТ400=100
Calculate Profit Percentage
Divide the profit by the original Cost Price and multiply by 100 to get the percentage: Profit%=(Profit/CP)├Ч100.
Profit%=400100тАЛ├Ч100=25%
B is correct because the profit of 100 on a cost price of 400 equates to a 25% gain.
This concept is the foundation for Profit and Loss, and is directly applicable to 'Discount' problems where the Marked Price (MP) acts as the base instead of the CP.
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