Question

A dress was bought for Rs. 2500 and sold for Rs. 3000. Find the profit or loss percent.

Answer 1

Hint: In this problem, first we have to find whether the seller gets profit or loss. For that we need
to compare the cost price and the selling price. After knowing whether it is profit or loss we need
to find the amount of profit or loss. Since the cost price and the selling price are given, so we
have to subtract the cost price from the selling price, which will give the amount of profit or loss.
Finally, we need to divide the amount of profit or loss by the cost price to get the profit or loss
percent.
It is given that the cost price = Rs. 2500
The selling price = Rs. 3000
Since the selling price is more than the cost price, so the seller got profit.
Now, we have to find the amount of profit that the seller made.
Subtracting cost price from the selling price.
Profit = selling price – cost price
$\begin{array}{l} = {\rm{Rs}}.3000 - {\rm{Rs}}.2500\\ = {\rm{Rs}}.500\end{array}$

Profit percentage
 $\begin{array}{c} = \dfrac{{500}}{{2500}} \times 100\\ =
\dfrac{{500}}{{25}}\% \\ = 20\% \end{array}$

Hence, the profit percentage is 20%.

Note: Cost price is the original price at which the seller bought the item. Selling price is the price
at which seller sells the item. If selling price is more than the cost price than the seller got profit
and if the selling price is less than the cost price then it is said to be the loss of the seller in that item.
Here, we have to determine the profit percentage gain in the product. Since the cost price and the
selling prices are given, we can calculate the amount of profit. Once we know the amount of
profit, it becomes easier to determine the profit percentage.