Question

An old T.V set was bought for Rs.1500. Some repairs we did for Rs.375. Then it was sold for Rs.2500. Find the profit or loss percentage.

Answer 1

Hint: Find the total money you invested in TV and subtract it with the selling price to get the profit or loss percentage. Doing this will solve your problem.

Complete Step-by-Step solution:
The rate of an old TV set was Rs.1500.
The cost needed to repair it is Rs.375.
Total cost the TV owner invested in it is 1500 + 375 = 1875……………(SP)
The TV was sold for Rs.2500…………………….(CP)
As we can clearly see that the selling price is more than cost price so the owner made a profit of 2500 – 1875 = 625 (Profit = SP - CP)
Rs.625 is Profit.
And the profit percentage is $\dfrac{{625}}{{1875}} \times 100 = \dfrac{{100}}{3}$.
And $\dfrac{{100}}{3}$ can be written as $33\dfrac{1}{3}$.
The answer is the owner made a profit of $33\dfrac{1}{3}$Percent.

Note: In these types of problems you need to find the cost price and selling price then you find profit or loss and then with help of cost price you can find profit or loss percentage easily. Doing this can solve your problem and will provide you the right percentage.