Question

Harbhajan Singh bought 500 kg of rice for 22000 rupees and sold it all at the rate of Rs. 48 per kg. How much profit did he make?

Answer 1

The cost price of 500 kg rice is Rs. 22000.
Selling price of 500 kg of rice is = 500 × 48 = Rs. 24000

Selling price is greater than cost price.
Therefore, there is a profit.

Profit = Selling price - Cost price
= 24000 - 22000
= Rs. 2000

∴ In this transaction, Harbhajan Singh made a profit of Rs. 2000.