Question

Rahul bought a mobile for \[Rs.500\] and sold it for \[Rs.625\] . Find the percentage of profit earned by Rahul?

Answer 1

Hint: In the above question, we have given that Rahul bought a mobile for \[Rs.500\] and sold it for \[Rs.625\] . To solve this question first we need to see or observe the cost price and the selling price of the mobile. To find the profit, we need to subtract the cost price of the mobile from the selling price. Then calculate the profit percentage by using a formula i.e. \[\dfrac{profit}{\cos t\ price}\times 100\] .
Formula used:
If, Selling price > cost price then,
Profit = Selling price – Cost price
Profit percentage = \[\dfrac{profit}{\cos t\ price}\times 100\]

Complete step-by-step answer:
We have given that,
Rahul bought a mobile for \[Rs.500\] and sold it for \[Rs.625\] .
Therefore,
Cost price of the mobile = \[Rs.500\]
Selling price of the mobile = \[Rs.625\]
As we know that,
If, Selling price > cost price,
Then,
Profit = Selling price – Cost price
Substituting the values,
Profit = \[Rs.625\] - \[Rs.500\] = \[Rs.125\]
Now,
The formula of profit percentage is given by;
Profit percentage = \[\dfrac{profit}{\cos t\ price}\times 100\]
Substituting the values,
Profit percentage = \[\dfrac{profit}{\cos t\ price}\times 100=\dfrac{125}{500}\times 100=25%\]
Therefore,
Rahul gets a profit of \[25%\] on selling the mobile of Rs. 500 at Rs. 625.
The profit percentage is equal to \[25%\] .
So, the correct answer is “ \[25%\]”.

Note: Profit in mathematics is taken into account because of the gain quantity from any endeavor. Whenever a merchant sells a product, his motive is to achieve some benefit for the customer within the name of profit. Once he sells the merchandise quite its value worth, he gets the profit on that; however if he has got to sell it for less than its value worth, he has suffered the loss. The construct of profit and loss is largely outlined in the terms of business.