Question

A person sells a cooker for 2568 rupees. If he bought it for Rs. 2400, what is his profit percentage?

A. 4%

B. 6%

C. 7%

D. 8%

1. A
2. D
3. B
4. C

Answer 1

Correct Answer - Option 4 : C

Given:

A person sells a cooker for Rs. 2,568

He bought cooker for Rs. 2,400

Formula used:

P = SP - CP

Profit percent = (P/CP) × 100

where, 

P is Profit

SP is Selling price 

CP is Cost price

Calculations:

According to the question, we have

Profit gained by the shopkeeper is

P = SP - CP

⇒ P = Rs. 2,568 - Rs. 2,400

⇒ P = Rs. 168

Now, Profit percentage is

Profit percent = (P/CP) × 100

⇒ Profit percent = (168/2400) × 100

⇒ Profit percent = 168/24

⇒ Profit percent = 7%

∴ The profit percentage gained by the shopkeeper is 7%.