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If the cost price of a shirt is Rs 500 and it is sold for Rs 600, what is the profit percentage?
  • a)
    0%
  • b)
    10%
  • c)
    20%
  • d)
    25%
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
If the cost price of a shirt is Rs 500 and it is sold for Rs 600, what...
Cost price (CP) = Rs 500; selling price (SP) = Rs 600.
Profit = SP - CP = Rs 100.
Profit percentage = (Profit / CP) × 100 = (100 / 500) × 100 = 20%.
Therefore, the profit percentage is 20%.
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