A shopkeeper sold an article for Rs. 2500. If the cost price of the article is 2000, find the profit percent.23%25%27%29%
Question
A shopkeeper sold an article for Rs. 2500. If the cost price of the article is 2000, find the profit percent.23%25%27%29%
Solution
To find the profit percent, we can use the formula:
Profit percent = (Profit / Cost Price) * 100
Given that the cost price of the article is Rs. 2000 and it was sold for Rs. 2500, we can calculate the profit as:
Profit = Selling Price - Cost Price = Rs. 2500 - Rs. 2000 = Rs. 500
Now, we can substitute the values into the formula to find the profit percent:
Profit percent = (500 / 2000) * 100 = 0.25 * 100 = 25%
Therefore, the profit percent is 25%.
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