A man bought an article for ₹500 and sold it for ₹600. Find his profit percentage.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 20%.
Cost Price (CP) = ₹500
Selling Price (SP) = ₹600
Profit = SP - CP = ₹600 - ₹500 = ₹100
Profit % = (Profit ÷ CP) × 100
⇒ (100 ÷ 500) × 100 = 20%