Question
Download Solution PDFAfter selling 110 oranges, a shopkeeper claims that he makes a profit equal to the selling price of 22 oranges. Find the profit percentage of the shopkeeper.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
After selling 110 oranges, profit = selling price of 22 oranges
Formula used:
Profit percentage =
Calculation:
Let SP of 1 orange = ₹1 (for simplicity)
Total SP of 110 oranges = 110 × 1 = ₹110
Profit = SP of 22 oranges = 22 × 1 = ₹22
Therefore, CP of 110 oranges = Total SP - Profit
⇒ CP of 110 oranges = 110 - 22 = ₹88
CP of 1 orange = ₹88/110 = ₹0.8
Profit percentage =
⇒ Profit percentage = 25%
∴ The correct answer is option (4).
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