Q: A man pays Rs. 27.50 for an item and sells it for Rs. 28.60. Determine his profit percentage.  

Answer: B

C.P = Rs. 27.50, S.P. = Rs. 28.60
So, Gain = Rs. (28.60 – 27.50) = Rs. 1.10.
$$\therefore Gain\mathrm{\%}=(\frac{1.10}{27.50}\times 100)\mathrm{\%}=4\mathrm{\%}$$

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