
How much is the profit at 8% on Rs.500?
Answer
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Hint: Profit is 8%. So first find the amount of 8% of 500 and add this amount to 500 to get the amount at which we get a profit of 8%. Or we can also solve this question by considering Rs. 500 as Cost price and Profit as 8%. So we need to find the selling price.
Complete step-by-step answer:
Profit is a financial gain. When the selling price is greater than the cost price, then we get a profit. It is the income remaining after settling all the expenses.
We are given to find how much the profit at 8% on Rs. 500 is.
Given amount is Rs. 500 and we got a profit of 8% on it.
8% of Rs. 500 is
So the final (profit) amount will be .
So the amount is Rs. 540 where we get a profit at 8% on Rs. 500.
So, the correct answer is “RS 540”.
Note: Another approach
Let the given cost price be Rs. 500 and the profit is 8%.
So we need to find the selling price at which we got 8% profit.
So Selling price (SP) can be found by , where CP is the cost price.
Therefore, on substituting the values of CP and profit in the above formula, we get
Sending 100 to the left hand side, we get
Sending 5 to the Left hand side, we get
Therefore, when the cost price is Rs. 500 and the selling price is Rs. 540, we get a profit of 8%.
Complete step-by-step answer:
Profit is a financial gain. When the selling price is greater than the cost price, then we get a profit. It is the income remaining after settling all the expenses.
We are given to find how much the profit at 8% on Rs. 500 is.
Given amount is Rs. 500 and we got a profit of 8% on it.
8% of Rs. 500 is
So the final (profit) amount will be
So the amount is Rs. 540 where we get a profit at 8% on Rs. 500.
So, the correct answer is “RS 540”.
Note: Another approach
Let the given cost price be Rs. 500 and the profit is 8%.
So we need to find the selling price at which we got 8% profit.
So Selling price (SP) can be found by
Therefore, on substituting the values of CP and profit in the above formula, we get
Sending 100 to the left hand side, we get
Sending 5 to the Left hand side, we get
Therefore, when the cost price is Rs. 500 and the selling price is Rs. 540, we get a profit of 8%.
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