Question

Harish bought a second-hand printer for 1200 and spent 200 on its repairs. He sold it for 1680. Find his profit or loss in percent.

Answer 1

Hint: In this question a person has brought a printer and has spent some money on its maintenance, so the total money that the person spent will be the amount on which he brought it for addition with the amount spent for maintenance. The profit or loss will simply be the amount at which he sold it deducted with the total amount he spent on that particular item.

Complete step-by-step answer:
Cost price of the printer is 1200 Rupees.

Now Harish spent 200 Rupees on its repairs.

So the total cost price of the printer becomes (1200 + 200 =1400).

And now it is given that he sold the printer for 1680 Rupees.

As we see that the selling price is greater than the cost price therefore he earns a profit.

Therefore profit (P) he earned = selling price – total cost price

$ \Rightarrow P = 1680 - 1400 = 280$ Rupees.

So the percentage of profit he earned is the ratio of profit he earned to the total cost price multiplied by 100.

Therefore the percentage of profit = $\dfrac{{280}}{{1400}} \times 100 = 20$ %.

So this is the required percentage of profit Harish earned.

Note: Whenever we face this type of problems the key concept that we need to keep in mind is if the selling price of the product is more than the cost price for it then obviously the person is going into profit else in reverse case he will be in a loss. This concept will help you get on the right track to reach the answer.