Mr. Gupta purchased an air conditioner for Rs. 12000 and sold it for Rs. 15000. What was the profit percentage?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 25
Profit percentage is always worked out on the cost price, the price at which the article was bought: it tells what part of the money spent came back as gain.
Profit = selling price − cost price \(=15000-12000=\) Rs. 3000
Profit as a percentage of the cost price: \(\displaystyle =\frac{3000}{12000}\times100=25\%\)