Manny bouht an AC at Rs 12000 and paid Rs 400 for transportation. Then he sold it for Rs 14000. Find his profit%.
Answer & explanation
Correct answer: option 1
Total cost spend on the AC = Rs 12000 + Rs 400 = Rs 12400
Selling Price = Rs 14000
Profit = SP - CP = 14000 - 12400 = 1600
Profit% = $\frac{profit}{CP}$ x 100 = $\frac{1600}{12400}$ x 100 = 12.90%