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The cost price of an article is Rs. 1200. The profit percent earned on it is The profit is ____.

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Detailed Solution

Concept-To solve this question, we use a formula that gives the relationship between profit, profit margin, and cost given by the following formula.

Use the profit, margin, and cost CP relations to calculate the results.
The relationship is given as

Since, the profit is

, the cost is

and we need to calculate the profit.
Using the formula

and substituting the value specified in the question, We get: 30
With the necessary relocations and calculations

Hence, the required result is Rs. 360.

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