Quantitative Aptitude :: Profit and Loss - Discussion

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Explanation:
SP = Rs. 3,600. P% = 20%
Directly use Calculating Cost price from Selling Price formula:
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In Profit case:
Cost Price = SP/(100+Profit)%
In Loss Case:
Cost Price = SP/(100?Loss)%
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Here he make profit of 20%
Cost Price = 3600/(100 + 20)% = (100 * 3600)/120 = Rs. 3,000
He sold the article for Rs. 3,150.
So Cost Price = Rs. 3000 and Sell Price = Rs. 3,150,
=> profit = Rs. 3150 - 3000 = Rs. 150
Formula Used: Profit% = (profit/CP)*100
Therefore Profit % = (150/3000) * 100% = 5%