If by selling 12 textbooks, a seller earns profit equal to the selling price of 4 textbooks, what is his percentage profit?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 50%
Sp of 1 textbook = 1 Rs. (assume)
SP of 12 textbooks = ₹12
Profit = SP of 4 textbooks = ₹4
Cost Price (CP) = SP − Profit = ₹12 − ₹4 = ₹8
Profit % = = 50%