Question

A man purchased a cell phone for $Rs.{\text{ }}2000$. By paying $Rs.{\text{ }}200$ more, he replaced its body (case). If he sells the cell phone for $Rs.{\text{ }}2500$ ,find the profit or loss percent.

Answer 1

Hint: Here we use the concept of Profit and Loss to solve this question
Required Formula:
\[
  {\text{Profit = SP - CP}} \\
  {\text{Profit or Loss }}\% = \dfrac{{{\text{Profit or Loss}}}}{{{\text{CP}}}} \times 100 \\
\]

Complete step by step Solution:
Given: Cost Price $(CP)$ of cell phone $ = Rs.{\text{ }}2000$.
Replacement cost for body (case) of cell phone $ = Rs.{\text{ }}200$
Selling Price $(SP)$ of cell phone $ = Rs.{\text{ }}2500$
Total cost price \[ = \] Original cost price \[ + \] other expenses
\[ \Rightarrow Total{\text{ }}cost{\text{ }}price = 2000 + 200 = 2200\]
\[{\text{SP}} = 2500\]
Here, \[{\text{SP}} > CP\] which means that it incurs a Profit.
\[
  {\text{Profit = SP - CP}} \\
   \Rightarrow 2500 - 2200 = 300 \\
  {\text{Profit }}\% = \dfrac{{{\text{Profit}}}}{{CP}} \times 100 \\
   = \dfrac{{300}}{{2200}} \times 100 \\
   = 13.63\% \\
\]
Therefore, profit percent is $13.63\% $

Note: In such type of questions which involves concept of Profit and Loss knowledge about the formula and the terms involved is needed. Frame the equations accordingly to get the required value.