An item bought for Rs. 800 is sold for Rs. 920. What is the profit percentage?
- A. 12%
- B. 15%
- C. 18%
- D. 20%
Explanation
Profit = 920 − 800 = Rs. 120. Profit percentage is always calculated on cost price: (120 ÷ 800) × 100 = 15%. Calculating it on the selling price instead is the most common error in this question type.