By selling 120 mangoes, a shopkeeper gains the selling price of 20 mangoes. Find his profit percentage.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 20%
Let the selling price of each mango = Rs 1
Then the selling price of 120 mangoes = Rs 120
And the profit he earned = selling price of 20 mangoes = Rs 20
Thus, the cost price of 120 mangoes = 120 - 20 = Rs 100
He earned Rs 20 on the cost price of Rs 100.
Thus, the profit percentage = (20/100) × 100 = 20%