Question
Download Solution PDFIf bananas are bought at the rate of 60 for ₹ 50 and sold at the rate of 50 for ₹ 60, what is the profit percent ?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost price of 60 bananas = ₹50
Selling price of 50 bananas = ₹60
Formula used:
Profit % = \(\dfrac{Selling\ Price - Cost\ Price}{Cost\ Price} \times 100\)
Calculation:
Cost price of 1 banana = 50 / 60 = ₹0.8333
Selling price of 1 banana = 60 / 50 = ₹1.20
Profit per banana = 1.20 - 0.8333 = ₹0.3667
Cost price of 1 banana = ₹0.8333
⇒ Profit % = (0.3667 / 0.8333) × 100
⇒ Profit % = 0.44 × 100
⇒ Profit % = 44%
∴ The correct answer is option 1.
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