A shopkeeper bought toffees at a rate of 10 for Rs 15 and sold them at a rate of 16 for Rs 40. Find his profit percentage. (correct to two decimal places)
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 66.67%
Given:
A shopkeeper bought toffees at a rate of 10 for Rs 15
A shopkeeper sold them at a rate of 16 for Rs 40
Formula used:
Profit percent = (SP - CP)/CP × 100
Where SP = selling price and CP = Cost price
Calculations:
According to the question;
Multiply equation (1) by 8 and equation (2) by 5, we get
80 toffees CP be 120 and SP be 200
Required profit percentage = (200 - 120)/120 × 100
⇒ 66.67%