A shopkeeper buys an article for Rs. 100 and sells it for Rs. 120. What is the profit percentage?
Show answer & explanation
Correct answer: C
Explanation
Given:
Cost Price = 100
Selling Price = 120
Formula:
Profit % = (Profit / Cost Price) × 100
Profit = 120 − 100 = 20
Profit % = (20 / 100) × 100 = 20%