A businessman invests Rs. 50,000 in buying items and spends Rs. 5,000 on transportation and Rs. 3,000 on storage. If he sells the items for Rs. 63,000, what is the profit or loss percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 8.62% profit.
Total spending = 50000 + 5000 + 3000 = 58000
SP = 63000
Profit = 63000 - 58000 = 5000
Profit percentage = (5000/58000) × 100 ≈ 8.62%