By selling 55 toffees, a shopkeeper earns a profit of 11 toffees. Determine the percentage profit earned.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 20%
By selling 55 toffees, a shopkeeper earns a profit of 11 toffees.
Profit on 55 toffees = C.P. of 11 toffees
(55S.P. - 55C.P.) = 11C.P.
Dividing both sides by 11 -
⇒ (5S.P. - 5C.P.) = C.P.
⇒ 5S.P. = 6C.P.
⇒ S.P. = 6C.P./5
Profit = S.P. - C.P. = 6C.P./5 - C.P. = C.P./5
Profit% = (Profit/C.P.)100 = [(C.P./5)/C.P.]100 = 20%