A refrigerator bought for ₹12,000 and sold for ₹13,500, then what is the profit percent?

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12.5%

30.5%

40.5%

50.5%

answer is A.

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Detailed Solution

From the given data, we have,
Cost price of the refrigerator (CP) = ₹12,000.                ---- (1)
The selling price of the refrigerator (SP) = ₹13,500.            ---- (2)
We know that,
Profit = SP – CP.                                                             ---- (3)
Substitute equations (1) and (2) in equation (3), then we get,
Profit = ₹ (13500 - 12000) = ₹1500.
Find the profit percentage.

P r o f i t % = P r o f i t C P × 100

= 150012000 × 100 = 1500120 = 12.5 %

Therefore, if the refrigerator is bought for ₹12,000 and sold for ₹13,500 then the profit is ₹1500 and the profit percentage is 12.5%.
Hence, option (1) is correct.

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