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Aslam bought a bicycle for Rs. 10,000 and sold it for Rs. 11,000. What is his profit percentage?
  1. 5%
  2. 10%
  3. 15%
  4. 20%
Explanation

Profit = Selling Price − Cost Price  

= 11,000 − 10,000 = 1,000


Profit % = (Profit / Cost Price) × 100  

= (1,000 / 10,000) × 100 = 10%

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If the production cost is Rs. 50,000 and the sales tax rate is 0%, what will be the sales tax amount?
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