A shopkeeper sold 20 toys for ₹2500 and gained a profit of 20%. How many toys should he sell for 2250 to make a profit of 8%?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 20.
Selling price of 20 toys = 2500
Profit = 20%
Cost price of 20 toys = 2500 × (100/120)
= 2500 × (5 / 6)
= 6250/3
Cost price of 1 toy = (6250/3) ÷ 20 = 6250/60
For 8% profit, selling price of 1 toy = (6250/60) × (108/100)
= 112.5
Number of toys = 2250 ÷ 112.5 = 20