A shopkeeper buys a table at ₹300 and sells it for Rs.375.Find his loss or gain percentage.
profit = 75
percentage profit = 75/300 = .25 or 25%
To find the loss or gain percentage, we need to calculate the difference between the selling price and the cost price, and then express it as a percentage of the cost price.
The cost price of the table is ₹300 and the selling price is ₹375.
To find the difference (profit or loss) between the selling price and the cost price, we subtract the cost price from the selling price:
Profit/Loss = Selling Price - Cost Price
Profit/Loss = ₹375 - ₹300
Profit/Loss = ₹75
Since the selling price (₹375) is more than the cost price (₹300), there is a profit of ₹75.
To calculate the profit or loss percentage, we divide the profit or loss amount by the cost price and then multiply by 100:
Profit or Loss Percentage = (Profit/Loss / Cost Price) * 100
Profit or Loss Percentage = (₹75 / ₹300) * 100
Profit or Loss Percentage = 0.25 * 100
Profit or Loss Percentage = 25%
Therefore, the shopkeeper has a profit of 25%.