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If a person buys an item for Rs. 500 and sells it for Rs. 600, what is the profit?
  1. 50
  2. 100
  3. 150
  4. 200
Explanation

  1. Cost Price (CP) = 500

  2. Selling Price (SP) = 600

  3. Profit = SP – CP

  1. Profit Percent = (Profit ÷ CP) × 100

Answer:

  • Profit = Rs. 100

  • Profit Percent = 20%

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