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A person wrongly calculated his profit on selling price and according to him, his profit percentage was 20. What was his actual profit percentage?
- A25%
- B30%
- C20%
- D33.33%
Answer not set
Discussion 1
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CCommunity
Let, the selling price = 100a
Profit percentage on selling price = 20%
∴ Profit = 100a × 20 / 100 = 20a
∴ Cost price = 100a – 20a = 80a
∴ Actual profit percentage = 20a/80a × 100% = 25%
Profit percentage on selling price = 20%
∴ Profit = 100a × 20 / 100 = 20a
∴ Cost price = 100a – 20a = 80a
∴ Actual profit percentage = 20a/80a × 100% = 25%