Gopal sold 152 chairs and had a gain equal to the selling price of 76 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 100%.
Profit = SP of 76 chairs
Total SP = SP of 152 chairs
Profit % = (Profit / Cost Price) × 100
CP = SP − Profit = SP of 152 − SP of 76 = SP of 76 chairs
So, Profit % = (76 / 76) × 100 = 100%