A pencil is bought for 300k and sold for 500k. What is the profit as a percentage of the cost price
To calculate the profit as a percentage of the cost price, we need to find the profit first.
Profit = Selling Price - Cost Price
Profit = 500k - 300k
Profit = 200k
Now, we can calculate the profit percentage.
Profit percentage = (Profit / Cost Price) * 100
Profit percentage = (200k / 300k) * 100
Profit percentage = (2/3) * 100
Profit percentage = 0.67 * 100
Profit percentage = 67%
Therefore, the profit as a percentage of the cost price is 67%.