mayur purchased a old bicycle for 850/- . he spend 120/- for it's repairing . after 6 months he sold it for 1000/- . find the profit or loss percentage on this transaction.....
plz give full explaination...( step by step plzzz ..)
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mayur purchased a old bicycle for 850/- . he spend 120/- for it's repairing . after 6 months he sold it for 1000/- . find the profit or loss percentage on this transaction.....
plz give full explaination...( step by step plzzz ..)
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Answer:
Cost price of bicycle = ₹850
Money spend on repairing = ₹120
Total cost price = 850+120
= ₹ 970
selling price of bicycle = ₹ 1000
SP>CP, so there is a profit
profit = SP- CP
= 1000- 970
= 30
profit % = profit /CP × 100
= 30/ 970×100
= 3.0927%
Verified answer
Answer:
Cost price = 850+120=970
Selling price = 1000
Profit= Selling price- Cost Price=1000-970=30
Profit% = (Profit×100)/Cost Price=(30×100)/970=3000/970=3.09%