Question
Download Solution PDFBy selling a watch for Rs. 2,000, a shopkeeper loses 20%. How much would he gain or lose by selling it for Rs. 3,000?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
By selling a watch for Rs. 2,000, a shopkeeper loses 20%
Concept used:
Profit is calculated on cost price.
Calculation:
The cost price is 2000 × 100/80 = Rs 2500
By selling it for 3000
Profit is 3000 - 2500 = Rs 500
Profit percentage is (500/2500) × 100 = 20%
∴ The correct option is 1
Last updated on Jul 17, 2025
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