Question : A man bought an article for Rs. 1500 and sold it at a price 25% higher than the cost price. After paying Rs. 75 as tax on the sale, calculate the net profit percentage.
Option 1: 20%
Option 2: 25%
Option 3: 30%
Option 4: 15%
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Correct Answer: 20%
Solution :
Given: A man purchased an article for Rs. 1500.
Sold it at 25% above the cost price.
He has to pay Rs. 75 as a tax on it.
The cost price(CP) = Rs. 1500
Profit = 25% of 1500 = $\frac{25}{100}×1500=375$
$\therefore$ Net profit = 375 – 75 = Rs. 300
$\therefore$ Profit percentage $=\frac{\text{Net profit}}{\text{CP}} × 100= \frac{300}{\text{1500}}×100= 20\%$
Hence, the correct answer is 20%.
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