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A man bought a dog for Rs. 1200 and sells it to his friend for Rs.1500. What is the profit in this transaction?
1. 25%
2. 30%
3. 20%
4. 40%

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Correct Answer - Option 1 : 25%

Given:

Cost price of dog = Rs. 1200

Selling price = Rs. 1500

Concept:

Gain: The amount gained by selling a product with more than its cost price.

Formula Used:

Profit = Selling price – Cost Price

Profit percentage = (profit/Cost Price) × 100

Calculation:

Profit = 1500 - 1200 = Rs.300

Profit % = (300/1200) × 100 = 100/4 = 25%

∴ The profit percent is 25%.

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