By selling 5 chairs for ₹1200, a carpenter gains the cost price of 2 chairs. The profit percent is:
Show answer & explanation
Correct answer: C
Explanation
Cost price of 1 chair = x
Cost price of 5 chairs = 5x
Profit = Cost price of 2 chairs = 2x
Selling price = ₹1200
5x + 2x = 1200
7x = 1200
Profit percentage -
= (2x ÷ 5x) × 100
= 40%