Question 54: Profit or Loss Percentage

 

Question:

Amit bought a table for ₹1200 and spent ₹200 on its repair. He sold it for ₹1680. What is his profit or loss percentage?

Options: (a) 12% profit (b) 16 ⅔% profit (c) 20% loss (d) 20% profit

Step 1: Find the Total Cost Price (CP)

The total cost price includes the price of the table plus repair cost:

Total CP=1200+200=1400\text{Total CP} = 1200 + 200 = 1400

Step 2: Find the Selling Price (SP)

SP=1680\text{SP} = 1680

Step 3: Determine Profit or Loss

Profit=SP−CP=1680−1400=280\text{Profit} = SP - CP = 1680 - 1400 = 280

Since SP > CP, Amit made a profit.

Step 4: Calculate Profit Percentage

Profit %=ProfitCP×100=2801400×100=20%\text{Profit \%} = \frac{\text{Profit}}{\text{CP}} \times 100 = \frac{280}{1400} \times 100 = 20\%

✅ Answer: (d) 20% profit

Fast Calculation Tip

  1. Always add extra costs to CP before calculating profit or loss.

  2. Use simple division: here 280÷1400=0.2280 ÷ 1400 = 0.2 → multiply by 100 to get 20%.

  3. Quick mental trick: “Profit of 1/5 of cost price = 20%” because 280 is 1/5 of 1400.

Analogy for Kids

Think of buying a chocolate box for ₹1200, spending ₹200 to decorate it, and then selling it for ₹1680.

  • You spent ₹1400 in total.

  • You earned ₹1680 → ₹280 extra.

  • That extra ₹280 is 20% of what you spent.

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