Giri bought an old machine for ₹2,000 and spent ₹500 on its repair. He sold it for ₹4,000. His profit percentage is:
Answer & explanation
Correct answer: option 2
Total CP = buying price + spending money = 2000 + 500 = 2500
Selling Price = 4000
Profit = \(\frac{(4000 - 2500)}{2500}\) × 100 = 60%