A shopkeeper purchases six small cold drink bottles for ₹100. For how much should he sell one such bottle to get a profit of 20%?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. ₹20.
Given that
Cost price of six bottles = ₹100.
Profit = 20%
Selling price = Cost price × (100 + profit %)/100
The selling price of the cold drinks = 100 × 120/100 = Rs 120
The selling price of each bottle = 120/6 = Rs 20.