An item purchased for Rs 300 is sold for Rs 315. What is the profit?

Question: An item purchased for Rs 300 is sold for Rs 315. What is the profit?

1. Rs 15
2. Rs 16
3. Rs 14
4. Rs 17

Correct Answer: A — Rs 15

Explanation: Profit = selling price − cost price.
Using the values in this question gives Rs 15 as the correct answer.