A table is bought for Rs. 2450 and sold for Rs. 2940. The gain percent is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 20%.
Profit = Selling price - Cost price
Profit % = (Profit/Cost price) × 100
We have,
Cost price = 2450 and Selling price = 2940
Profit = 2940 - 2450 = 490
Profit% = (490/2450) × 100 = 20%