Baban sold 150 chairs and had a gain equal to the selling price of 90 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 150%.
Gain = SP of 90 chairs
So, profit = 90 × SP per chair
Total SP = 150 × SP per chair
Profit % = (Profit / Cost Price) × 100
Let SP per chair = ₹1 (for simplicity)
→ Profit = ₹90
→ SP = ₹150
→ CP = SP − Profit = 150 − 90 = ₹60
Profit % = (90 / 60) × 100 = 150%