Civil Service Exam Reviewer · Simple Interest and Profit/Loss · easy

A vendor buys a bag for ₱2,760 and sells it for ₱2,780. How much is the profit?

  1. ₱5,540
  2. ₱20
  3. ₱2,780
  4. ₱40

Answer

B. ₱20

Solution

Profit = selling price − cost = ₱2,780 − ₱2,760 = ₱20.

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