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A man sold 250 chairs and had a gain equal to selling price of 50 chairs. What is his profit percentage?
- A20
- B25
- C10
- D15
Answer not set
Discussion 1
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CCommunity
Let selling price of 1 chair = S.P
Cost price of 1 chair = C.P
Profit in selling 250 chairs = 50 S.P
Profit in selling 1 chair = 50/250 S.P = 0.2 S.P
Profit = S.P - C.P
⇒ 0.2 S.P = S.P - C.P
⇒ C.P = 0.8 S.P
Profit percentage = (profit/C.P) × 100 = (0.2 × S.P/0.8 × S.P) × 100 = 25%
Cost price of 1 chair = C.P
Profit in selling 250 chairs = 50 S.P
Profit in selling 1 chair = 50/250 S.P = 0.2 S.P
Profit = S.P - C.P
⇒ 0.2 S.P = S.P - C.P
⇒ C.P = 0.8 S.P
Profit percentage = (profit/C.P) × 100 = (0.2 × S.P/0.8 × S.P) × 100 = 25%