Question : Sapna purchased a cycle for Rs. 1000 and sold it for Rs. 1200. Her gain in percentage is:
Option 1: 20%
Option 2: 10%
Option 3: 12%
Option 4: 40%
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Correct Answer: 20%
Solution :
Cost price (CP) = Rs. 1000
Selling price (SP) = Rs. 1200
Profit = Selling price – Cost price = 1200 – 1000 = Rs. 200
Profit percentage $=\frac{\text{Profit}}{\text{CP}} × 100= \frac{200}{1000} × 100= 20\%$
Hence, the correct answer is 20%.
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