A person bought some pens at the rate of 30 for a rupee and sold them at the rate of 20 for a rupee. What is the profit percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 50 percent.
The person buys 30 pens for 1 rupee
so
The cost price of one pen is = 1 rupee/30 pens = 1/30 rupees
The person sells 20 pens for 1 rupee
so the selling price of one pen is = 1 rupee/20pens = 1/20 rupees
Profit per pen = SP of 1 pen − CP of 1 pen
⇒ 1/20 - 1/30 = 1/60 rupees
Profit % = (Profit per pen/CP for 1 pen) × 100
⇒ Profit % = (1/60)/(1/30) × 100
⇒ 1/60 × 30/1 × 100
⇒ 1/2 × 100 = 50 percent