A shopkeeper bought a bicycle for 3000 and sold the same for 3400 how much was his profit

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A shopkeeper bought a bicycle for Rs 3000 and sold the same for Rs 3400 . How much was his profit?

Solution

Cost price of bicycle = Rs 3000 Selling price of bicycle = Rs 3400 Since selling price > cost price, so there is a profit. Profit = Selling price − Cost price = 3400 − 3000 = Rs 400

∴ The shopkeeper made a profit of Rs 400 in this transaction.

Mathematics

Mathematics (Solutions)

Standard VI

A shopkeeper bought a bicycle for Rs 3000 and sold the same for Rs 3400. How much was his profit?

Cost price of bicycle = Rs 3000

Selling price of bicycle = Rs 3400

Since selling price > cost price, so there is a profit.

Profit = Selling price − Cost price

= 3400 − 3000

= Rs 400

∴ The shopkeeper made a profit of Rs 400 in this transaction.

Concept: Concepts of Cost Price, Selling Price, Total Cost Price, and Profit and Loss, Discount, Overhead Expenses and GST

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