Multiple choice

The cost price of an article is Rs. $280$. The selling price of an article is Rs. $337.50$, while the other expenses cost Rs. $20$. Find profit or loss percentage.

  1. Profit $12\dfrac{1}{2}\%$
  2. Profit $ 5\%$
  3. Loss $ 5\% $
  4. Profit $10\%$
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A Correct answer
Explanation

Total cost = 280 + 20 = 300. Selling price = 337.50. Profit = 37.50. Profit percentage = (37.50 / 300) * 100 = 12.5%. 12.5% is 12 1/2%.

AI explanation

Using the formula for total cost price, we add the overhead expenses to the base cost, which gives a total cost price of 280 + 20 = 300. The profit is calculated as the selling price minus the total cost price, yielding 337.50 - 300 = 37.50. The profit percentage is then found using the formula (Profit / Cost Price) * 100, resulting in (37.50 / 300) * 100 = 12.5%, which is a profit of 12 and a half percent. The result is a profit of 12 and a half percent.

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