A vendor buys 20 dozen bananas for ₹1,200 and sells 5 dozen for ₹350, then his gain percentage is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. %.
The vendor buys 20 dozen bananas for ₹1200
The Cost Price per dozen = 1200/20 = ₹60
The vendor sells 5 dozen bananas for ₹350
The Selling Price per dozen = 350/5 = ₹70
Now,
Profit = Selling Price - Cost Price = 70 - 60 = ₹10
Thus,
Gain% = Profit%/CP × 100
⇒ 10/60 × 100 = 100/6 = 16.67% or %