Geeta bought a bag for ₹1,000 and spent ₹300 on fixing the defects in the bag. Later, she sold it for ₹1,508. What is the percentage of profit that Geeta earned through the sale?
Answer & explanation
Correct answer: option 4
Cost price of the bag = 1000
Spent = 300
Selling price = 1508
Total cost price = 1000 + 300 = 1300
Profit = 1508 - 1300 = 208
Profit% = 208 × \(\frac{100}{1300}\) = 16%