Find the gain percentage, given that Siddhi sold her scooter for Rs 31,902 gaining 1/6th of the selling price.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 20%.
Let the selling price be 6x
Profit = 1/6 of 6x = 1x
Cost price = 6x - x = 5x
According to the question;
⇒ 6x = 31902
⇒ Profit = x = 5317
⇒ Cost price = 5x = 5 × 5317 = 26585
Required profit percentage = (5317/26585) × 100 = 20%