A shopkeeper buys an item at 87% of its selling price and sells it at 13% more than its selling price. His profit percentage (rounded off to the nearest integer) is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 30%.
Let the selling price of the item be 100.
CP for shopkeeper = 87% of 100 = 87
SP for shopkeeper = 113% of 100 = 113
Profit % = [(113 - 87)/87] × 100
⇒ 100 × 26/87 = 29.88% ≈ 30%