A shopkeeper buys 10 fans and sells 8 fans at the cost price of 10 fans. What is the profit percentage?
Show answer & explanation
Correct answer: A
Explanation
The Correct answer is option 1 i.e. 25%
Given that
The selling price of 8 fans = The cost price of 10 fans
S.P./C.P. = 10/8 = 5/4
Formula used
Profit % = [(S.P - C.P)/C.P.] × 100
Calculation
Profit % = [(5 - 4)/4] × 100 = 100/4 = 25%