Question : Geeta bought a bag for INR 1,000 and spent INR 300 on fixing the defects in the bag. Later, she sold it for INR 1,508. What is the percentage of profit that Geeta earned through the sale?
Option 1: 12%
Option 2: 14%
Option 3: 18%
Option 4: 16%
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Correct Answer: 16%
Solution :
Give: Geeta bought a bag for INR 1,000 and spent INR 300 on fixing the defects in the bag.
Later, she sold it for INR 1,508.
Total cost = 1000 + 300 = INR 1,300
Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100=\frac{1508-1300}{1300}\times 100=\frac{208}{1300}\times 100=16\%$
Hence, the correct answer is 16%.
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