By selling 120 note books, a shopkeeper gains the selling price of 40 note books. Find his gain percentage.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 50%.
Let the selling price of 1 notebook be ₹1 (for simplicity).
Selling price of 120 notebooks = 120 × 1 = ₹120
Gain = Selling price of 40 notebooks = 40 × 1 = ₹40
Cost price = Selling price – Gain = 120 – 40 = ₹80
Gain % = (Gain ÷ Cost Price) × 100 = (40 ÷ 80) × 100 = 0.5 × 100 = 50%