Kisna buys a cow for ₹15,000. After one year, he sells it for ₹18,500. After one year, again he buys the same cow at ₹19,000 and sells it for ₹22,300. What is the overall profit percentage of Kisna?
Answer & explanation
Correct answer: option 3
Kisna buys a cow for 15,000. After one year, he sells it for 18,500.
Cost price first time = 15000
Selling price first time = 18500
After one year, again he buys the same cow at 19,000 and sells it for 22,300.
Cost price second time = 19000
Selling price second time = 22300
Overall profit percentage =
\(\frac{(18500 + 22300) – (15000 + 19000)}{ (15000 + 19000)}\)
= \(\frac{6800}{34000}\) × 100 = 20%