By selling 20 cakes, a shopkeeper earns the selling price of 4 cakes. Determine the profit percentage.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 25%.
Profit = SP of 4 cakes
Let SP of 1 cake = ₹1
SP of 20 cakes = ₹20
Profit = ₹4
CP = ₹20 – ₹4 = ₹16
Profit% = = 25%