If the selling price of 30 toys is equal to the cost price of 50 toys, then find the gain percentage (round up to two decimal places).
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 66.67%.
Let cost price of 1 toy = Rs. x
So, cost price of 50 toys = 50x
Selling price of 30 toys = 50x
⇒ Selling price of 1 toy = 50x ÷ 30 = 5x/3
Now, for 30 toys:
Cost price = 30x
Selling price = 50x
Profit = 50x – 30x = 20x
Profit % = (Profit ÷ Cost price) × 100
= (20x ÷ 30x) × 100
= 66.67%