A student bought a calculator for ₹400 and sold it for ₹440. What is the profit percentage?
- AOption (a)
8%
- BOption (b)
9%
- COption (c)
10%
- DOption (d)
12%
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Correct answer
10%
Why this answer is correct
Shortcut Trick
Profit = Selling Price − Cost Price = 440 − 400 = 40.
Profit % = (Profit ÷ CP) × 100 = (40 ÷ 400) × 100.
Profit % = 1/10 × 100 = 10%.
∴ The correct answer is 10%.
Alternate Method
Given:
Cost Price (CP) of the calculator = ₹400
Selling Price (SP) of the calculator = ₹440
Formula Used:
Profit = Selling Price − Cost Price
Profit Percentage (%) = (Profit ÷ Cost Price) × 100
Calculations:
⇒ Profit = 440 − 400 = ₹40
⇒ Profit Percentage = (40 ÷ 400) × 100
⇒ Profit Percentage = (1 ÷ 10) × 100
⇒ Profit Percentage = 10%
∴ The correct answer is 10%.
Additional Information
Loss Percentage
When CP > SP, a loss occurs. Loss % = [(CP − SP) ÷ CP] × 100.
Selling Price Formula
To find SP when profit % is given: SP = CP × [(100 + Profit %) ÷ 100].
Cost Price Formula
To find CP when SP and profit % are given: CP = [SP × 100] ÷ (100 + Profit %).