Question : The selling price and the cost price of an article are INR 6,000 and INR 5,000 respectively. What is the profit percentage?
Option 1: 25%
Option 2: 10%
Option 3: 20%
Option 4: 15%
Correct Answer: 20%
Solution :
The profit percentage = $\frac{\text{Profit}}{\text{Cost Price}}$ × 100%
The cost Price (CP) is INR 5000 and the Selling Price (SP) is INR 6000
Profit = SP − CP = 6000 − 5000 = 1000
⇒ Profit percentage = $\frac{1000}{5000}$×100
= 0.2 × 100
= 20%
Hence, the correct answer is 20%.
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