If the cost price of 5 shirts is the same as the selling price of 3 shirts, find the profit percentage.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 66.66% profit.
Let the cost price(CP) of the article be x and the selling price(SP) of the article be x
The total cost price for 5 shirts = 5x and,
The total selling price of 3 shirts = 3y
According to the question, the cost price of 5 shirts is the same as the selling price of 3 shirts, so
⇒ 5x = 3y
⇒ y = 5x/3
Now,
Profit = SP - CP
Profit= y - x
⇒ 5x/3 - x
⇒ (5x - 3x)/3
⇒ 2x/3
Hence,
Profit% = Profit/CP × 100
Profit% = 2x/3/x × 100
⇒ 2x/3x × 100
⇒ 2/3 × 100 = 66.66%