A man bought a second-hand typewriter for Rs.1200 and spent Rs.200 on its repairs. He sold it for Rs.1680. His profit is
Question and options
A man bought a second-hand typewriter for Rs.1200 and spent Rs.200 on its repairs. He sold it for Rs.1680. His profit is
- 20%
- 10%
- 8%
- 16%
Answer and explanation
Correct answer: A - 20%
Cost price = 1200 + 200 = 1400. Profit = 1680 - 1400 = 280, i.e. 280/1400 = 20%.
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CUSAT Three-Year LL.B.
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