I bought 10 pencils for Rs 50 and sold them for Rs 60. What is my Profit %?Options :20%30%40%none
Question
I bought 10 pencils for Rs 50 and sold them for Rs 60. What is my Profit %?Options :20%30%40%none
Solution
To calculate the profit percentage, you first need to determine the amount of profit you made.
Step 1: Calculate the profit amount Profit = Selling price - Cost price Profit = Rs 60 - Rs 50 Profit = Rs 10
Step 2: Calculate the profit percentage Profit % = (Profit / Cost price) * 100 Profit % = (10 / 50) * 100 Profit % = 20%
So, the profit percentage is 20%.
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