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Activity Discussion Math Profit and loss

• # Profit and loss

Posted by on June 22, 2023 at 4:59 pm

A man bought a refrigerator for 11500 rupees. Unfortunately it broke down after a few days and he spent 1500 rupees to fix it. Finally he sold the refrigerator to his friend for 15500 rupees. What percentage of profit he made through the transaction?

replied 3 months, 1 week ago 2 Members · 1 Reply
• ### Devi

Member
June 22, 2023 at 5:09 pm
0

To calculate the percentage of profit,

*The cost price of the refrigerator = 11,500 rupees. *The man spent an additional rupees to fix the refrigerator is = 1500. Therefore, the total cost spent by the man is =

11,500 + 1,500 = 13,000 rupees.

The selling price of the refrigerator is 15,500 rupees.

To calculate the profit, we subtract the cost price from the selling price:

Profit = Selling price – Cost price

Profit = 15,500 – 13,000 = 2,500 rupees.

Now, we can calculate the percentage of profit by dividing the profit by the cost price and multiplying by 100:

Percentage of Profit = (Profit / Cost price) * 100

Percentage of Profit = (2,500 / 13,000) * 100 ≈ 19.23%

Therefore, the man made approximately a 19.23% profit through this transaction.

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