30 If SP = Rs 550 and CP = Rs 400. Find P or L%
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profit= sp-cp
550-400
150
150/400×100(%)
=37.5% Profit
Verified answer
As per the data given in the question,
In the above question, it is given that,
selling price[tex]=Rs550[/tex]
Cost price[tex]=400[/tex]
We have to find the profit or Loss.
Here we have to use the formula of Profit or loss is equal to selling price minus cost price.
[tex]Profit=SP-Cp\\=550-400\\=150[/tex]
Thus the selling price is more than the cost price so it is a profit of Rs.150.
Further to calculate the percentage of profit,
[tex]\%Profit=\frac{Profit}{CP} \times 100[/tex]
substituting the value in the above equation we get,
[tex]=\frac{150}{400} \times 100\\=37.5\%[/tex]
Hence percentage of profit is 37.5%.