Question : A man buys a watch for INR 250 and sells it for INR 300. Find his profit percentage.
Option 1: 20%
Option 2: 25%
Option 3: 15%
Option 4: 10%
Answer (1)
24th Jan, 2024
Correct Answer: 20%
Solution :
The cost price of the watch = INR 250
Selling price of the watch = INR 300
Profit = selling price – cost price = 300 – 250 = 50
Profit percentage = $\frac{\text{Profit}}{\text{cost price}}\times100= \frac{50}{250}\times100= 20\%$
Hence, the correct answer is 20%.
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